30/06/2015: Demonetization of old Guinean franc banknotes
The old series of Guinean franc banknotes, denominated in 'Syli,' ceased to be legal tender, and only the new franc banknotes remained in circulation.
16/03/2015: Bank of Jamaica Act
The Bank of Jamaica Act was passed, granting the central bank greater autonomy in executing monetary policy and promoting financial stability.
12/02/2013: Currency devaluation
To stabilize the economy, the Jamaican Dollar was devalued by approximately 16.5% against major currencies.
26/09/2012: Introduction of new Guinean franc coins
New coins denominated in the Guinean franc were introduced, replacing the previously used Guinean syli coins.
28/11/2010: IMF agreement
Jamaica reached an agreement with the International Monetary Fund (IMF) for a financial support program to address economic challenges.
30/06/2010: Revaluation of the Guinean franc
The Guinean franc underwent a revaluation, with 1 new franc being equivalent to 10,000 old francs.
30/06/1997: Introduction of new Guinean franc
A new series of Guinean franc banknotes, denominated in 'Syli,' was introduced as a replacement for the previous currency.
30/04/1994: Foreign exchange liberalization
Jamaica lifted restrictions on foreign exchange, allowing for more flexible trade and investment opportunities.
25/03/1991: JMD devaluation
Due to economic pressures, the Jamaican Dollar was devalued by 33.3%, leading to an increase in the exchange rate.
30/11/1985: Devaluation of the Guinean franc
The Guinean franc was devalued by 50%, leading to an economic crisis and high inflation.
05/08/1971: Currency decimalization
Jamaica decimalized its currency, dividing the Jamaican Dollar into 100 cents instead of 20 shillings.
31/05/1971: Redenomination of the Guinean franc
The Guinean franc underwent a redenomination, with 1 new franc being equivalent to 10 old francs.
07/02/1969: Jamaican Dollar introduced
The Jamaican Dollar (JMD) was introduced as the official currency of Jamaica, replacing the Jamaican pound.
01/10/1959: Introduction of Guinean franc
The Guinean franc was introduced as the official currency of Guinea following its independence from France.