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On 30 January 1968, the Jamaican House of Representatives voted to decimalize the currency by introducing the dollar, worth 10 shillings, to replace the Jamaican pound. Coins and banknotes went into circulation on 8 September 1969.
The economy of Jamaica is heavily reliant on services, accounting for 71% of the country's GDP. [17] Jamaica has natural resources and a climate conducive to agriculture and tourism. The discovery of bauxite in the 1940s and the subsequent establishment of the bauxite-alumina industry shifted Jamaica's economy from sugar , and bananas .
Value, year of minting, "East Caribbean States", 2-branch wreath 2002 2 cents 21.46 mm 1.42 g 5 cents 23.11 mm 1.74 g 10 cents 18.06 mm 2.59 g Cupronickel: Ribbed Value, year of minting, "East Caribbean States", sailing ship 25 cents 23.98 mm 6.48 g 1 dollar 26.5 mm 7.98 g Alternate smooth and ribbed
Bahamian dollar: BSD Central Bank of The Bahamas: 1.00 BSD = 1.00 USD Barbados: Barbadian dollar: BBD Central Bank of Barbados: 2.00 BBD = 1.00 USD Caribbean Netherlands: United States dollar: USD De Nederlandsche Bank (monetary authority) Federal Reserve Bank (U.S. dollar) float Cayman Islands: Cayman Islands dollar: KYD Cayman Islands ...
Jamaica (/ dʒ ə ˈ m eɪ k ə / ⓘ jə-MAY-kə; Jamaican Patois: Jumieka [dʒʌˈmie̯ka]) is an island country in the Caribbean Sea and the West Indies.At 10,990 square kilometres (4,240 sq mi), it is the third largest island—after Cuba and Hispaniola—of the Greater Antilles and the Caribbean. [9]
The modern dollar and peso symbols originated from the mark employed to denote the Spanish dollar, [2] whereas the pound and lira symbols evolved from the letter L (written until the seventeenth century in blackletter type as ) standing for libra, a Roman pound of silver.
The Straits dollar adopted a gold exchange standard in 1906 after it had been forced to rise in value against other silver dollars in the region. Hence, by 1935, when China and Hong Kong came off the silver standard, the Straits dollar was worth 2s 4d (11.5p approx) sterling, whereas the Hong Kong dollar was worth only 1s 3d sterling (6p approx).
A commonly used currency in the Americas is the United States dollar. [1] It is the world's largest reserve currency, [2] the resulting economic value of which benefits the U.S. at over $100 billion annually. [3] However, its position as a reserve currency damages American exporters because this increases the value of the United States dollar.