Convert your NGN to JMD
NGN to JMD Comparison Table
| Feature | NGN (Nigerian Naira) | JMD (Jamaican Dollar) |
|---|---|---|
| Currency Code | NGN | JMD |
| Symbol | ₦ | J$ |
| Issuing Authority | Central Bank of Nigeria | Bank of Jamaica |
| Economic Strength | Developing, resource-based economy | Developing, tourism-based economy |
| Exchange Rate Volatility | High | Relatively stable |
| Popular Use Cases | Domestic transactions, remittances | Domestic and international transactions, tourism |
| Digital Payment Adoption | Growing adoption, mobile money prominent | Increasing adoption |
| Inflation Rate | Historically high | Relatively low |
| Interest Rates | High | Lower than Nigeria |
| Foreign Exchange Reserves | Moderate | Adequate |
| Foreign Direct Investment (FDI) | Increasing, resource-focused | Significant, tourism and related sectors |
Key Observations:
- The NGN is a currency of a developing economy with high volatility, while the JMD is from a developing, tourism-based economy with relative stability.
- Jamaica has a more advanced digital payment infrastructure compared to Nigeria.
- The interest rate differential between the two countries is significant‘
Related Currency Pairings
| African Currencies | Asian Currencies |
| NGN to ZAR NGN to SDG NGN to SZL NGN to TND | NGN to JPY NGN to JOD NGN to KGS NGN to KHR |
| European Currencies | South America Currencies |
| NGN to BAM NGN to BGN NGN to BYN NGN to CAD | NGN to COP NGN to CRC NGN to PEN NGN to PYG |
7 Facts About The Jamaican Dollar
- Post-Independence Currency: Introduced in 1969, replacing the Jamaican Pound, the Dollar symbolized Jamaica’s economic independence.
- Floating Exchange Rate: The Jamaican Dollar operates on a floating exchange rate, subject to market forces and economic conditions.
- Central Bank Control: The Bank of Jamaica oversees the issuance and management of the Dollar, implementing monetary policies.
- Tourism-Driven Economy: Jamaica’s tourism industry significantly influences the Dollar’s value, as it’s a major source of foreign exchange.
- Subdivision: Divided into 100 cents, but these smaller units are no longer used in practical terms.
- Cash and Digital Payments: While cash remains prevalent, Jamaica is increasingly adopting digital payment methods.
- Currency Code: JMD is the official currency code for the Jamaican Dollar, used in international financial transactions.
Reputable Banks in Nigeria and Jamaica for Naira to Jamaican Dollar Exchange
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | CitiBank Nigeria Ltd | Lagos |
| Nigeria | Globus Bank | Lagos |
| Jamaica | National Commercial Bank Jamaica Limited (NCB) | Kingston |
| Jamaica | Jamaica National Bank (JN Bank) | Kingston |
| Jamaica | Scotiabank Jamaica Limited (Scotia) | Kingston |