Jamaica Bank Stops Exchanging Bermuda Dollar

August 25, 2019 | 12 Comments

The Bank of Jamaica has advised that it will no longer exchange Bermuda dollars at its banking counter as it “has been unable to repatriate this particular foreign currency.”

This is according to a statement on the bank’s website, which said, “Bank of Jamaica wishes to advise that effective 26 August 2019, it will no longer exchange the Bermuda Dollar at its banking counter.

“This decision has been taken in a context where the Bank has been unable to repatriate this particular foreign currency. In that regard, after giving value for the Bermuda Dollar to the public at our banking counter, the Bank cannot obtain value in return. Given this development, the only recourse at this time is to cease accepting the Bermuda Dollar.

“The Bank views the exchange of foreign currencies as a public good, and after accepting the Bermuda Dollar at its banking counter in exchange for Jamaica dollars over the years, we regret any inconvenience caused by this decision.

“BOJ continues to accept all those currencies for which we publish a counter rate. A listing of these is available on our website.”

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Comments (12)

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  1. 2woke says:

    You know you’ve hit rock bottom when jamaica won’t take our dollar!
    LOL

  2. Onion Peels says:

    Well that’s a hurtie. Can’t even buy a Jamaican dollar with Bermuda’s currency.

  3. sage says:

    If the Jamaican government sends me a ticket, I would fly down and repatriate the funds for them for a reasonable fee.

  4. SweetLoquat says:

    WOW. We’re going to be screwed soon.

  5. Triangle Drifter says:

    Goes to show how worthless our dollar is anywhere past the reef line.

  6. One Who Escaped says:

    And so it begins…

  7. Gustav says:

    yes lets go Independent
    will see how much we can buy for the funny Bermuda dollar

  8. Gustav says:

    Maybe someone tried to Change too many bermies into Jameican Dollar
    Kind of retirement saving

  9. Dready says:

    Wait until we go independent.
    Our banks in Bermie won’t take our Bermuda $$$$ as they will be worth less than toilet paper
    25-11 haha ha!

  10. Bermudian says:

    Make a change at the next election!

  11. James says:

    Jamaica’s dollar was about one to one with USA in late sixties. Now 135 to 1.
    We too can have this with independence

  12. Uninformed says:

    For all the uninformed BMD is not negotiable outside Bermuda and never has been. They never should have been accepting it anyway. Has nothing to do with the value of our dollar but how the BMA intends for it to be used.

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