JMD information
About Jamaican Dollar (JMD)
The Jamaican Dollar (JMD), introduced in 1969, is not just the currency of Jamaica; it symbolizes the nation's post-independence economic journey and cultural identity. It is commonly abbreviated as JMD and represented by the symbol $.
Historical Background
The Jamaican Dollar was introduced on January 30, 1969, replacing the Jamaican Pound, as Jamaica moved towards decimalization following its independence from Britain in 1962. This shift was a crucial step in asserting Jamaica's economic sovereignty and a departure from its colonial past.
Design and Symbolism
The design of the Jamaican Dollar is a celebration of the nation's rich history and cultural diversity. Banknotes and coins are adorned with portraits of national heroes, such as Marcus Garvey and Nanny of the Maroons, and depict iconic landmarks and scenes representing Jamaica’s natural beauty, such as Dunn's River Falls. These designs serve as a daily reminder of Jamaica’s proud heritage and natural wonders.
Economic Role
The Jamaican Dollar is central to the island's economy, characterized by its tourism sector, bauxite/alumina exports, and agriculture. As the primary medium of exchange, the Jamaican Dollar facilitates trade and commerce, playing a critical role in the economic activities of the nation.
Monetary Policy and Inflation
Managed by the Bank of Jamaica, the Jamaican Dollar has faced challenges such as inflation and devaluation. The central bank's monetary policies aim to stabilize the currency, control inflation, and foster sustainable economic growth. These measures are crucial for maintaining the confidence of both domestic and international investors.
International Trade and the Jamaican Dollar
The Jamaican Dollar's exchange rate plays a significant role in international trade, particularly for Jamaica's key exports and the tourism industry. A stable and competitive exchange rate is essential for maintaining the attractiveness of Jamaican exports and the tourism sector.
Remittances and Economic Impact
Remittances from Jamaicans living abroad, particularly in the United States, United Kingdom, and Canada, are a significant source of foreign income. These funds, converted into Jamaican Dollars, support many families and contribute to the national economy.
DCT to JMD conversion rate trend
How to convert DCT to JMD
Buy DCT (or USDT) for JMD (Jamaican Dollar) offers
| Merchants (trades/completion rate) | Price | Amount/limit Low to high | Payment methods | Zero fees Action |
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Sell DCT (or USDT) for JMD (Jamaican Dollar) offers
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What factors influence the conversion rate of DCT to JMD?
Degree Crypto Token to Jamaican Dollar is rising this week.DCT to JMD Conversion tables
The exchange rate of Degree Crypto Token is increasing.DCT to JMD
JMD to DCT
DCT to JMD Today vs. 24 hours ago
| Amount | 04:03 am today | 24 hours ago | 24h change |
|---|---|---|---|
| 0.5 DCT | $3.53 | $2.91 | +21.37% |
| 1 DCT | $7.06 | $5.81 | +21.37% |
| 5 DCT | $35.28 | $29.07 | +21.37% |
| 10 DCT | $70.55 | $58.13 | +21.37% |
| 50 DCT | $352.76 | $290.66 | +21.37% |
| 100 DCT | $705.52 | $581.32 | +21.37% |
| 500 DCT | $3,527.62 | $2,906.58 | +21.37% |
| 1000 DCT | $7,055.24 | $5,813.15 | +21.37% |
DCT to JMD Today vs. 1 month ago
| Amount | 04:03 am today | 1 month ago | 1M change |
|---|---|---|---|
| 0.5 DCT | $3.53 | $2.3 | +53.64% |
| 1 DCT | $7.06 | $4.59 | +53.64% |
| 5 DCT | $35.28 | $22.96 | +53.64% |
| 10 DCT | $70.55 | $45.92 | +53.64% |
| 50 DCT | $352.76 | $229.6 | +53.64% |
| 100 DCT | $705.52 | $459.19 | +53.64% |
| 500 DCT | $3,527.62 | $2,295.97 | +53.64% |
| 1000 DCT | $7,055.24 | $4,591.93 | +53.64% |
DCT to JMD Today vs. 1 year ago
| Amount | 04:03 am today | 1 year ago | 1Y change |
|---|---|---|---|
| 0.5 DCT | $3.53 | $3.95 | -10.66% |
| 1 DCT | $7.06 | $7.9 | -10.66% |
| 5 DCT | $35.28 | $39.49 | -10.66% |
| 10 DCT | $70.55 | $78.97 | -10.66% |
| 50 DCT | $352.76 | $394.86 | -10.66% |
| 100 DCT | $705.52 | $789.72 | -10.66% |
| 500 DCT | $3,527.62 | $3,948.59 | -10.66% |
| 1000 DCT | $7,055.24 | $7,897.18 | -10.66% |
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