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Bank of Jamaica halts exchange of Bermudian dollar at its banking counter

Sunday, August 25, 2019

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The Bank of Jamaica (BOJ) is advising members of the public that as at tomorrow (August 26) it will no longer exchange the Bermudian dollar at its banking counter.

This decision, the BOJ stated in a release on Friday last (August 23) has been taken in a context where the bank has been unable to repatriate this particular foreign currency.

“In that regard, after giving value for the Bermudian dollar to the public at our banking counter, the bank cannot obtain value in return. Given this development, the only recourse at this time is to cease accepting the Bermudian dollar,” the BOJ press release stated.

The country's central bank said it views the exchange of foreign currencies as a public good, and after accepting the Bermudian dollar at its banking counter in exchange for Jamaica dollars over the years, we regret any inconvenience caused by this decision.

The BOJ continues to accept all those currencies for which we publish a counter rate. A listing of these is available on our website: http://boj.org.jm/foreign_exchange/fx_crates.php, the release ended.


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