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Jamaica $5000 note

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Duane 3NE 2NR
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Jamaica $5000 note

Postby Duane 3NE 2NR » September 25th, 2009, 2:08 pm

Jamaica started using their $5000 notes yesterday.
The note was first announced in May 2009 but only went into circulation yesterday 24th September

this was the story back in May

Jamaica welcomes the Shearer - New $5,000 note named after the late PM

Published: Friday | May 15, 2009

Jamaica's central bank will issue a $5,000 bill on Monday, a move more likely driven by a wish to celebrate the life of the late Prime Minister, Hugh Shearer - whose image will be on the currency - rather than an immediate demand for a bigger note to store value.

The Bank of Jamaica (BOJ) announced its plan yesterday, without giving a rationale for the launch of the new note, the first since the $1,000 bill was issued eight years ago.

"The governor (Derick Lati-beaudiere) will explain it all on Monday," a central bank spokesperson told The Gleaner yesterday.

Normally, central banks feel compelled to issue higher value notes when their economies are wracked by inflation and it requires more and more to make purchases.

Not the case

That is not the case in Jamaica where inflation last year was around 17 per cent and is projected to reach 14 per cent in 2009.Significantly, Monday's launch of the $5,000 note will be on the 86th anniversary of the birth of Shearer, who died in 2004. Perhaps more widely hailed as a labour leader, including his presidency of the Bustamante Industrial Trade Union where he succeeded its founder, Shearer also had success and respect as a politician.


Image

in perspective - or perhaps not - its JA$5000 for a ticket to an average all inclusive fete. Its normal to spend JA$3000 to fill the gas tank of an SUV.

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Postby equipped2ripp » September 25th, 2009, 2:19 pm

the CBTT needs to take note in making a $500 bill for Trinidad and Tobago.

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Picasso
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Postby Picasso » September 25th, 2009, 2:20 pm

How much for a bull in Ja? :|

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foss
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Postby foss » September 25th, 2009, 2:21 pm

what is the exchange rate for JA and T'dad ?

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Postby noshownogo » September 25th, 2009, 2:23 pm

around 14 JA to 1TTD

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Postby noshownogo » September 25th, 2009, 2:33 pm

with the above in mind, a JA 5000 note is the equivalent of $350TTD. I dunno how sensible a $500TTD note would be in our current market conditions.

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Postby - Rovin's car audio - » September 25th, 2009, 2:34 pm

T&T so backward eh - we need a $1000 note here instead of walking with 10 pieces of paper to buy things ... :roll:

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Postby xtech » September 25th, 2009, 2:41 pm

comes in hand when you going to buy a car cash ent........ :lol:

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Postby janfar » September 25th, 2009, 2:55 pm

(...Rovin...) wrote:T&T so backward eh - we need a $1000 note here instead of walking with 10 pieces of paper to buy things ... :roll:


Linx...

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Postby xtech » September 25th, 2009, 2:55 pm

:lol: :lol:

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hydroep
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Postby hydroep » September 25th, 2009, 2:57 pm

Yep. I could of sworn that I heard one of the 20/20 pundits saying that they want to hasten T&T's move towards a cashless society.

Imagine goin' broke at the touch of a button...:|

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Postby Duane 3NE 2NR » September 25th, 2009, 4:32 pm

^ Imagine getting your entire salary in one note? :|

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hydroep
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Postby hydroep » September 25th, 2009, 4:41 pm

^Eh? Ent dey does call dat a cheque?...:|

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slick
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Postby slick » September 25th, 2009, 7:40 pm

janfar wrote:
(...Rovin...) wrote:T&T so backward eh - we need a $1000 note here instead of walking with 10 pieces of paper to buy things ... :roll:


Linx...


:pwned:

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Postby Duane 3NE 2NR » September 25th, 2009, 8:20 pm

hydroep wrote:^Eh? Ent dey does call dat a cheque?...:|


a note: a dollar note

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