23/06/2016: Brexit Referendum
The United Kingdom voted to leave the European Union, causing significant uncertainty and volatility in the pound sterling's value.
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.
28/11/2010: IMF agreement
Jamaica reached an agreement with the International Monetary Fund (IMF) for a financial support program to address economic challenges.
31/12/1999: Establishment of the Euro
The euro was introduced as an electronic currency, paving the way for the eventual replacement of some national currencies, including the pound.
30/04/1994: Foreign exchange liberalization
Jamaica lifted restrictions on foreign exchange, allowing for more flexible trade and investment opportunities.
16/09/1992: Black Wednesday
The pound sterling experienced a severe drop in value and the UK was forced to withdraw from the European Exchange Rate Mechanism (ERM).
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.
05/08/1971: Currency decimalization
Jamaica decimalized its currency, dividing the Jamaican Dollar into 100 cents instead of 20 shillings.
14/02/1971: Decimalization of the Pound
The pound sterling was decimalized, with the old system of pounds, shillings and pence replaced by a decimal currency.
07/02/1969: Jamaican Dollar introduced
The Jamaican Dollar (JMD) was introduced as the official currency of Jamaica, replacing the Jamaican pound.
06/12/1921: Currency Separation with Ireland
Following the Anglo-Irish Treaty, Ireland left the United Kingdom and established its own currency, leading to separate pound sterling notes.
21/12/1816: Gold Standard Introduced
The pound sterling was officially placed on the gold standard, meaning it was backed by a fixed amount of gold.
27/07/1694: Bank of England Established
The Bank of England was founded and granted a royal charter, becoming the central bank of England.