JMD to PKR Currency Converter - 1 Jamaica Dollars To Pakistan Rupee

JMD to PKR

The exchange rate from JMD to PKR is around 0 Pakistani Rupees. The rate of exchange keeps on fluctuating according to the economic conditions of the country. To keep the exchange rate stable, the economy of the country should also be stable. The relationship with other countries also plays a massive role in maintaining the economic conditions of the country. The balance of payment, interest rate, inflation rate, and political conditions are certain factors that affect the rate of exchange. The relationship between JMD and PKR and the effect they have on each other is explained below.

JMD

JMD stands for the Jamaican Dollar. It is the currency of Jamaica since 1969. The currency symbol for the Jamaican Dollar is J$ or JA$. The Jamaican Dollar is different from all other Dollar currencies because it is based on the half-pound sterling.

Many different banknotes and coins from different countries were used in Jamaica in the past. There was no real currency in the start as transactions were mainly done on the barter system. In the 16th century, after the Spanish colonization of Jamaica, the buying and selling of goods and services were done through Spanish money.

 Then, in the 18th century, when Jamaica was a British colony, pound sterling or its different version was used as a currency. Later in 1969, JMD replaced the Jamaican Pound. The currency is circulated in the form of coins and banknotes. The coins are circulated in denominations of $1, $5, $10, and $20. The banknotes are also circulated in denominations of $50, $100, $500, $1000, and $5000.

The Jamaican Dollar is devaluing because it is managing two official currencies. One is the Jamaican Dollar, which is managed by the government without the desire of the people. The other one is the US Dollar, which is the currency of choice. Both currencies are used for the exchange of goods and services. However, the Jamaican Dollar is losing its value and is not being used as a medium of exchange.

PKR

PKR stands for Pakistani Rupees. It is denoted by Rp. In 1947, the Pakistani Rupee replaced the Indian Rupees. The minimum coin in Rupees is 1 Rupee coin. The coins are circulated in the denomination of Rs 1, 2, and 5. The banknotes are also c0irculated in the denomination of Rs 10, 20, 50, 100, 500, 1000, and 5000.

The Pakistani Rupee was initially pegged to the British Pound until 1982. But the government decided to implement the floating policy, which caused a financial crisis. The economy of Pakistan is very weak and unstable, which causes volatility. The currency is devalued due to unstable relations with other countries and corrupt global image.

JMD and PKR

JMD is stronger than PKR. The rate of exchange fluctuates depending upon different economic factors. PKR is a weak currency with a high volatility rate. Whereas the Jamaican Dollar is losing its value as the US Dollar is preferred over the Jamaican Dollar as a medium of exchange. The Jamaican Dollar is used for small transactions, while the US Dollar is used for significant transactions. But if we compare both, despite the continuous loss in the value, JMD has a higher-end over PKR.