Jamaica Bank Stops Exchanging Bermuda Dollar
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.”
You know you’ve hit rock bottom when jamaica won’t take our dollar!
LOL
Well that’s a hurtie. Can’t even buy a Jamaican dollar with Bermuda’s currency.
If the Jamaican government sends me a ticket, I would fly down and repatriate the funds for them for a reasonable fee.
WOW. We’re going to be screwed soon.
Goes to show how worthless our dollar is anywhere past the reef line.
And so it begins…
yes lets go Independent
will see how much we can buy for the funny Bermuda dollar
Maybe someone tried to Change too many bermies into Jameican Dollar
Kind of retirement saving
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!
Make a change at the next election!
Jamaica’s dollar was about one to one with USA in late sixties. Now 135 to 1.
We too can have this with independence
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.