1 Jamaica Dollar to Canadian Dollars
Find the daily exchange rates for JMD/CAD and for all the top World currencies.
Today 1 Jamaica Dollar is worth 0.00923 CAD while 1 Canadian Dollar is worth 108.30465 JMD.
Jamaica Dollar / Canadian Dollar ratio is the value of the Jamaica Dollar in Canadian Dollar.
JMD/CAD thus refers to the exchange rate of the Jamaica Dollar in Canadian Dollar, ie the value of the Jamaican currency expressed in Canadian currency.
The notation used is JMD / CAD, but there are others, such as JMDCAD or JMD-CAD. The symbol for JMD can be written J$.
The symbol for CAD can be written $.
JMD to CAD Exchange Rates Table
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Countries That Use Jamaica Dollar (JMD) as their official currency
The Jamaica Dollar (JMD) is used as the main currency in the following countries: Jamaica
Countries That Use Canadian Dollar (CAD) as their official currency
The Canadian Dollar (Canadian Dollar) is used as the main currency in the following countries: Canada
About The Jamaica Dollar (CAD)
The CAD - Canadian Dollar - is the official currency of Canada, one of the largest countries in the world by area. The Canadian Dollar is symbolized by '$' or 'C$', and is often informally called the 'loonie' due to the depiction of a loon, a common bird in Canada, on the one-dollar coin. The CAD is subdivided into 100 smaller units called 'cents.' As the fifth most-held reserve currency globally, the Canadian Dollar is known for its stability and reliability, reflecting Canada’s well-developed economy and rich natural resources.
The Canadian Dollar was introduced in 1858, replacing the Canadian Pound, as the country moved towards adopting a decimal system that was similar to the United States Dollar. This transition was made to facilitate trade with the United States, which was becoming an increasingly important economic partner. Initially, the CAD was pegged to the British Pound and later to the US Dollar, but in 1970, Canada adopted a floating exchange rate. Since then, the value of the Canadian Dollar has been determined by market forces, reflecting the strength of the Canadian economy and its integration into global financial markets.
The Canadian economy is diverse and resource-rich, with significant contributions from sectors like energy, mining, manufacturing, agriculture, and services. As a result, the value of the CAD is often influenced by global commodity prices, particularly oil, natural gas, and metals, since Canada is one of the world's largest exporters of these resources. This commodity-linked nature of the CAD means that fluctuations in global demand for raw materials can significantly impact its value. Investors often view the Canadian Dollar as a 'commodity currency,' making it a popular choice during times of rising commodity prices.
The Bank of Canada, the country’s central bank, is responsible for issuing the Canadian Dollar and managing the country's monetary policy. The bank’s primary objective is to maintain low and stable inflation, which it accomplishes through interest rate adjustments and other monetary measures. The Canadian Dollar is issued in both coin and banknote forms. Coins are available in denominations of 5, 10, and 25 cents, as well as 1 and 2 dollars, often known as the 'loonie' and 'toonie,' respectively. Banknotes are issued in values of 5, 10, 20, 50, and 100 dollars. Canadian banknotes are made from polymer and feature advanced security features, as well as portraits of notable Canadian figures such as Sir Wilfrid Laurier, Canada's first French-speaking prime minister, and Viola Desmond, a civil rights activist.
The Canadian Dollar plays an essential role in both domestic and international trade. Canada’s proximity to the United States, combined with the North American Free Trade Agreement (NAFTA) and its successor, the United States-Mexico-Canada Agreement (USMCA), has made the CAD a critical currency in North American trade. Its value is closely monitored by businesses, investors, and governments, given Canada’s strong economic ties to the United States and its role as a major exporter of commodities like oil, timber, and wheat.
In everyday life, the Canadian Dollar is used across Canada, from bustling metropolitan cities like Toronto and Vancouver to more remote areas, ensuring seamless trade and commerce throughout the vast country. The iconic symbols depicted on coins and banknotes celebrate Canada’s heritage, natural beauty, and historical achievements, reflecting the values and diversity of the Canadian people.
The Canadian Dollar has proven to be a resilient and stable currency, even during periods of global economic uncertainty. Its connection to the commodities market, combined with Canada’s sound economic management and robust financial system, has contributed to its reputation as one of the most reliable currencies in the world. The CAD continues to represent Canada’s prosperity, resource wealth, and its active role in the global economy, making it a trusted store of value and a symbol of national pride.
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