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.
29/12/2014: Introduction of new Bahamian dollar variants
New variants of the Bahamian dollar banknotes, featuring improved security features, were introduced to combat counterfeit money.
12/02/2013: Currency devaluation
To stabilize the economy, the Jamaican Dollar was devalued by approximately 16.5% against major currencies.
28/11/2010: IMF agreement
Jamaica reached an agreement with the International Monetary Fund (IMF) for a financial support program to address economic challenges.
30/04/1994: 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.
27/12/1974: Devaluation of the Bahamian dollar
The Bahamian dollar was devalued by 50% to stimulate the country's tourism industry and boost its economy.
10/07/1973: Independence from British rule
The Bahamas gained independence from British rule, maintaining the Bahamian dollar as its currency.
05/08/1971: Currency decimalization
Jamaica decimalized its currency, dividing the Jamaican Dollar into 100 cents instead of 20 shillings.
09/09/1969: Currency Board Agreement
The Bahamas entered into a Currency Board Agreement with the Eastern Caribbean Currency Authority, establishing fixed exchange rates for their currencies.
07/02/1969: Jamaican Dollar introduced
The Jamaican Dollar (JMD) was introduced as the official currency of Jamaica, replacing the Jamaican pound.
01/01/1966: Introduction of the Bahamian dollar
The Bahamian dollar was introduced, replacing the British pound as the official currency of the Bahamas.
06/08/1866: Adoption of the British pound
The Bahamas officially adopted the British pound sterling as their currency, replacing the Bahamian pound.
06/06/1853: Introduction of the Bahamian pound
The Bahamian pound was introduced as the official currency of the Bahamas, replacing the Spanish dollar.