Quote Originally Posted by Blake View Post
But if the cambios in Jamaica are giving 85/1, and xe is 89/1, you're losing $4 JMD per dollar you convert, losing roughly 5% of your value.

I guess it beats pulling out a currency calculator every purchase....
Blake... XE & most online converters are giving the bank rate, not the actual exchange rate. You are not losing 5%. That is how the banks & cambios are able to offer the exchange service. The 5% is their operating expense. I was most recently in Negril a couple of weeks ago & - depending on where you exchange - the rate was $1US = $86 - $86.50J. Hope this helps.