BOJ PRESS RELEASE: BOJ STOPS EXCHANGING THE BERMUDA DOLLAR

Date: August 23, 2019

Bank of Jamaica wishes to advise that effective 26 August 2019, it will no longer exchange the Bermuda Dollar at its banking counter.

This decision 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 Bermuda 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 Bermuda Dollar.

The Bank views the exchange of foreign currencies as a public good, and after accepting the Bermuda Dollar at its banking counter in exchange for Jamaica dollars over the years, we regret any inconvenience caused by this decision.

Press Release – Bank of Jamaica – Bermuda Dollar – August 2019

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2019-08-23T20:52:47+00:00