Jamaica to phase out cotton banknotes by July
Central bank says denominations between 50 and 5,000 Jamaican dollars will be affected
The Bank of Jamaica announced on April 6 that older banknotes made of cotton will no longer be legal tender from July 1. Note denominations ranging between 50 and 5,000 Jamaican dollars will be affected.
In its announcement, the bank said the notes would no longer be eligible for transactions involving goods or services, but that it would redeem them at face value “indefinitely”. It said transactions should be carried out using coins and the polymer notes introduced in June 2023.
In May 2024, the
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