Its more fun to spend in Jamaican currency!
It seems if you pay in US$ and you get change back, it is in Jamaican and the rate they give you back can be less than the exchange rate at a cambio. If you are paying 3 or 4 percent more when paying US and then you get back 3 or 4 % less on the change..it really can add up..but of course it is not always the case..
In the 80's, Jamaicans couldn't turn in Jamaican Dollars and get US Currency in exchange so US Dollars were a hot commodity. People would take US Dollars to Miami and purchase auto parts to bring back to Jamaica to sell thus making a whole heap of money in the process. Today US Dollars are sought to hoard as a hedge against Inflation and constant devaluation of the Jamaican Currency.
It really makes little sense to use the Black Market to exchange money these days as the small amount of return possible is well outweighed by the possibility of getting counterfeit currency or ripped off during the transaction.
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Use Jamaican dollars while in Jamaica. It's the easiest way to go, and it exercises the brain a bit with the mental conversion calculations. As Accompong said, don't exchange money on the black market (guys on the street), you are only asking to get ripped off.
Here is a link to the Bank of Jamaica website, showing US dollar to JA dollar average exchange rate over the years. (First year I went to Jamaica, $1 US got you $1.78 JA). You could find a nice place to stay for $20 or $30 JA back then.
http://www.boj.org.jm/foreign_exchan...tes_annual.php
Last edited by sunray; 11-13-2011 at 11:55 AM. Reason: forgot to add link