Jamaica is an island country situated in Caribbean Sea. In year 2015, Jamaica received remittance inflow of $ 2.36 billion, of which $ 1.68 billion was sent from US. The remittances sent by Jamaican expats working overseas plays a good role in the economy of country and government provides facilities for it.
The official language of Jamaica is English and currency of the country is Jamaican Dollar (JMD). When sending money to Jamaica, you can choose from various money transfer services to get the maximum value. You should explore the available options and compare them on a reliable comparison platform like ExchangeRateIQ.
Comparing money transfer operators for their exchange rate, remittance fees, transfer time and offers will not only help you make a better decision but will also help you save money on your money transfer to Jamaica. You can also check reviews of money transfer services on ExchnageRateIQ.
Current Exchange Rate(Mid Market) :- 135.875 JMD/USD
is a currency exchange rate. Usually traders in currency exchange market have two exchange rates -
- Selling exchange rate - at which sellers are willing to sell a particular currency and
- Buying exchange rate - at which buyers are willing to buy a particular currency.
Mid-market rate is the mid-point of these two rates. This is the most transparent and the most accurate exchange rate. It is also known as “Interbank Rate” or “Spot Rate” or “Real Exchange Rate”. This is the rate which independent sources like Reuter, Google etc show.