How do the businesses in Negril determine their exchange rates?

[HarryS]

I exchange money and use $J when in Negril, but have noticed that when spending USD businesses typically cut 10% or more from the actual exchange rate when making the conversion. Some more than that. How do they determine what rate to give?

For example, we had lunch at Chicken Lavish. Food was great! But the menu was strange... I wish I took a picture... prices were listed in both $J and US and it made no sense. I don't remember exact specific items and prices, but there were items listed with identical prices in $J, but different in USD! Why would two different items, both priced the same, convert to different prices in USD?

I know this is one of those places that everyone here speaks so highly of, so why has no one ever mentioned this?

Another thought is, so many tourists pay in USD, so why can't they give change back in USD? The only reason I can think is so they can profit on the exchange rate.

I've also noticed that when at bars if I try to use large bills to pay for things (and I find it hard to consider $1000 J a large bill, it's a little more than ten bucks) they sometimes have to run all over to get change, even though I've seen people pay them in smaller bills. Are they trying to rip me off? Hope I forget my change altogether? I forget where we were, but I paid for a couple Red Stripes with $100's, then ordered another and paid with a $1000. He had to leave to get change. What did he do with the $800 I had given him over the past hour?

[Big_frank]

Foreign currency is accepted as a courtesy in Jamaica and some other countries. I don't expect to have my Canadian dollars accepted in the U.S.A., so I use American dollars. As far as small Negril businesses having that much U.S. money on hand to give you change in U.S. dollars?....not happening.

[Flipadelphia26]

To add to the response. The currency value fluctuates daily. Last may, the exchange rate was 88 or 89. Now it's about 100-1. So I would guess reprinting the menues daily isn't an option.


Also, when they buy and sell money at the exchange. The exchange takes as percentage, it's not free to make the exchange. So why should they pay the fee, when they are offering the convenience of accepting foreign currency?

[541lion]

With my trip coming up soon I've been watching the exchange rate pretty much daily .. It almost hit 100. Now we're at 98.. It's always changing

[HarryS]

I'm saying that I sit at the bar, watch them accept lots of $1's and $5's, but when given a $10 they return the change in $J. They definitely could have given change in USD, but don't.

Here's the menu from the Chicken Lavish website so you can see what I mean. This is identical to the menu they were using two weeks ago.



A Heineken is $200J or $3 US, rum punch is also $200J, but it costs $3.50 US? 3 pcs of chicken $550J and $8 US, pork chops are also $550J but $7.50 US? You can see examples like that all over the menu. Not to mention that rum punch is an exchange rate of 57-1. These menus haven't been reprinted in years. I guess the lesson here is to pay in $J!

[Flipadelphia26]

Yes. Pay in J. lol.

[Toban]

I see where your'e coming from HarryS. It makes no sense at all. It definitely has nothing to do with fluctuating dollar or "courtesy". In Mexico the give change back in US dollars when you use US dollars or Pesos, whatever they have instead of running to find change. I guess the answer has to come from the person who drew up the menu. As for the running around for change, I think when they get too much cash they give it over to the person in charge for safe keeping. Just my opinion.

[goldilocks]

Establishments are allowed to set their own exchange rates....

[ohliz]

I use J$ everywhere but will make especially sure to use it at Chicken Lavish next time I'm in Negril - their prices in J are fantastic!

Indeed every restaurant/bar can set its own exchange rate because the official currency of Jamaica is the JA$ and using anything else means your rate will vary according to the whim of the seller, meaning the business you are dealing with.

Just exchange to J and avoid all the hassle.

[HarryS]

Establishments are allowed to set their own exchange rates....

Sure, they are "allowed" to, but does that make it right? Does it make it fair?

It feels like every time something that isn't all sunshine is mentioned, people like to point out things like this. Just because people CAN do something doesn't mean they SHOULD.