JMD (Jamaican Dollar)

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Definition of 'JMD (Jamaican Dollar)'

The Jamaican dollar (JMD) is the currency of Jamaica. It is subdivided into 100 cents. The JMD is issued by the Bank of Jamaica. The JMD was introduced in 1969 to replace the Jamaican pound. The JMD is pegged to the United States dollar at a rate of J$1 = US$0.0087.

The JMD is used in Jamaica for all transactions, including the purchase of goods and services, the payment of taxes, and the exchange of money. The JMD is also used in the Cayman Islands, Turks and Caicos Islands, and the British Virgin Islands.

The JMD is a relatively stable currency. The exchange rate between the JMD and the US dollar has remained relatively constant over the past few years. This stability makes the JMD a good choice for investors who are looking for a safe investment.

The JMD is also a good choice for tourists who are visiting Jamaica. The JMD is widely accepted in Jamaica, and it is easy to exchange US dollars for JMD.

The JMD is a valuable asset for Jamaica. The JMD helps to promote economic growth and stability in Jamaica. The JMD is also a symbol of Jamaica's independence and sovereignty.

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