Tourist rarely if EVER come out on the short end of the conversion rate. The current rate at the Cambio today was 114.7 to 1 (JA$ to US$). For ALL the places charging LESS than 114.7 to 1, the tourist as well as Jamaicans are receiving a "local discount" by paying in Jamaican currency. I know of no restaurant, bar or hotel charging even 114.8 to 1 or more. The tourist, by paying in Jamaican, is ALWAYS getting the LONG end of the "conversion" every single time.Originally Posted by Craig123
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Despite apparently knowing the cambio rate, for some reason establishments don't bother to post the current cambio rate. Why not a little full disclosure? Just saying
Craig123,Despite apparently knowing the cambio rate, for some reason establishments don't bother to post the current cambio rate. Why not a little full disclosure? Just saying
The average business in Negril is not a Cambio, and does not and cannot legally operate as one. Their only requirement for "full disclosure" is to let you know what rate, if any, they are giving for foreign currency. They are not required to accept foreign currency at all. It is done as a convenience to their clients.
The current Cambio US$ rate is 114.7 to 1 - so a us$10 dinner, if paid in US$, in current cambio rates would be Ja$1147. If the restaurant has an exchange rate at 110 to 1, which many are doing to keep the conversion simple, you are paying Ja$1100 for that same dinner. Ja$1100 is LESS than Ja$1147. The tourist and local paying in Jamaican currency are getting the better deal than paying in US$, although it only works out to be about 47 US cents.
To make it very simple, a popular bar on the beach charges us$2.50 or Ja$250 for a beer. Exchange your us$20 at the Cambio and you get Ja$2294 back. US$20 at the bar will buy you 8 beers with no change. Ja$ will buy you 9 beers and have Ja$44 left over. Once again, paying in Jamaican currency comes out ahead for both tourists and locals.
I have never heard any tourist or local getting a "worse deal" by paying in the local Jamaican currency at any bar or restaurant.
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Sorry that I seem to have struck a nerve. I always pay in ja. Remember that not everyone comes with US cash which adds another layer to the conversion. Needing to convert a U.S. price to ja and then the ja to ca for a Canadian perspective IS a bit of a pain. It's just as simple as that.
Last edited by Craig123; 08-20-2015 at 11:42 PM.
Criag123,
You are not striking a nerve, I am just trying to correct inaccuracies. In your first post you state some businesses here "insist" on being paid in US$. That is illegal. ALL Jamaican businesses must accept Jamaican dollars. With about 70% of all visitors to the island being from the US$, bills are often presented in US$ as a convenience to 70% of Jamaica's visitors. If the JA$ amount is not on the bill, just ask them for it as you intend to pay in Jamaican dollars. We deal with this often in bars or restaurants in other parts of the island. And yes, they assume Lisa/Bnewb is American.
You then say that if a visitor pays in Jamaican currency they always get the "short end". That is not accurate. If a visitor or local pays in the Jamaican dollar, they never get the "short end". Visitors and locals will always get the best value possible by paying in Jamaican dollars.
Now about this extra "layer" of conversion for Canadians. Lisa is Canadian understands the Canadian perspective intimately. There is no need for any non-American to have any US$ on them at any time. Canadians and visitors from the European Union, Britain, Russia, Japan, Cayman Island, Mexico, Brazil and even Greece (grin), etc. can change their local currency at the cambio or bank into the Jamaican local currency and get the best deal possible.
You admit you always pay in JA$. That is smart advice for everyone to follow as paying in any other currency you will not get the going cambio/bank rate. The exchange rate you get from the bar or restaurant will have a convenience charge as businesses are doing this as service for their clients and not acting as a cambio.
Negril.com - For the vacation that never ends!
Here's what I learned:
1 - Pricing in US dollars = lower price if paying with JA.
2 - There are no exceptions to rule 1
Sarcastic Question - Is that a discount for using JA or a surcharge for using US?
My pet peeve is the pricing in US dollars and that remains. Saying that's because it's the most stable currency is a pretty weak argument. I'm SO done with this topic.
Darn it! I was planning to bring my Drachmas and pay for things on my next visit and now you tell me paying in Jamaican Dollars in Jamaica is a better deal? Who would have thunk it??
Just a joke!
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