Jamaican Dollar Ranked As Second-Lowest Currency in the Caribbean – Watch Video
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The Caribbean is made up of numerous islands that have many different currencies representing their respective territories. The value of these currencies varies, with the weakest being the Guyanese dollar and the strongest being the Cayman Islands dollar.
The value of currency is always changing, and today 210.96 Guyanese dollars is equivalent to one US dollar. This currency, which was first issued in 1839, is considered a floating currency because its value and exchange rate are affected by the supply and demand of the international market.
The Jamaican dollar is the second-lowest currency in the Caribbean, and one US dollar is equivalent to 154 Jamaican dollars. First produced in 1969, the Jamaican dollar is also a floating currency, with its value affected by economic and political circumstances as well as supply and demand.
The Haitian Gourde is the third weakest, with 149.73 Haitian gourdes equating to one US dollar. The Haitian gourde is another representation of a floating currency, and its value continues to take hits as inflation rates soar.
The Dominican Republic falls into fourth place, with 55.78 pesos being equivalent to one US dollar. This currency, which is known as the most stable floating currency, was first issued in 1844.
The Surianese dollar is the fifth on the list, which initially had a fixed rate of 7.4 Surianese dollars to one US dollar. However, it was demoted to a floating currency after the value progressively dropped, and now 33.66 Surinanese dollars are equal to one US dollar.
In Cuba, one US dollar is equivalent to 24 Cuban pesos. Trinidad and Tobago has a floating currency that was first issued in 1964, and One US dollar is currently equal to 6.78 Trinidad and Tobago dollars. The Eastern Caribbean (EC) dollar, issued in 1983, is used in eight territories and has a fixed rate of 2.70 EC dollars to one US dollar.
Meanwhile, the Cayman Islands dollar, produced in 1972, has a fixed rate of 0.82 KYD to one US dollar, making it the strongest currency in the Caribbean and also stronger than the US dollar.
Watch the video below:
