Coming down next month. Someone told me the rate had gone from 70 up to 76. Is that true? If it is true what are the consequences?

Things will cost you more.....
You may check the exchange rates on this site http://www.gocurrency.com/
I believe that there is a currency conversion on this site somewhere as well....

Hi I wanted to know the exchange rate of the British pound to the JA dollar. Iam due out there in a few weeks time and this would be very helpful to plan my budget.

Funny y'all should ask...we just updated the exchange rate page a couple days ago: http://treasurebeach.net/guide/misc/ex-rates.cfm

How would things cost more if you get more J for a USD ?
Things will cost more for locals, but should be cheaper for tourists, unless they just raise the price of things.
ONE LOVE !!
Mike

Excuse me MikeyMike
you are correct - I have never been very strong at math
although....
When you get to Jamaica you will see how much the price of everything has increased in the last year and you will find that nearly everything costs more.

This is really hitting the people who live in TB. If visitors tip in US instead of J, their tips would be even more appreciated right now.

Oh, it is now $76.51 J to $1 US. This is not good. Do any employers such as in the villas or guesthouses pay in US or do all pay in J? I ask because if one gets paid in J and they are on a salary, it looks like their pay went down about 8% this month.

I don't understand the change in exchange rates. It seems higher is better. Isn't 76 better than 70?

The Hikaru staff is paid in Ja$ but at a rate set in US$, calculated at the exchange rate, so are buffered from exchange rate fluctuations. I believe others may do that too.

The higher exchange rate is a plus only for a tourist who brings in US dollars -- and then only if the goods and services s/he purchases don't go up in price to reflect the devaluation. For most Jamaicans, such devaluation is bad news indeed: Anything purchased from the US -- cars, engines,parts,wheat, you-name-it -- costs more: The Jamaican importer now has to pay Ja$76 for every US dollar's worth bought, instead of Ja$68 only a few months ago. That increased cost is passed along to consumers.

If you give an exchanger US$1, you get JA$76 n return.

If you want to buy things in US dollars you have to pay JA$76 for each US$1. This becomes important when the government buys petroleum for making gas, when Courts buys furniture from abroad, etc.

So a higher exchange rate benefits those with US dollars and hurts those with JA dollars.

When I first set foot on the island in 1996, the exchange rate was around 34 to 1.

-Eric

I remember when I first set foot in JA in 1987 the exchange rate was $5.75 to $1.

I personally use the "Red Stripe factor" to figure out the inflation rate. When I first came here most Red Stripe sold for $1.25 US. Now with the current exchange rate, most Red Stripe sells for $1.60 US.

Very scientific approach to be sure!