Bank of Jamaica wishes to bring to the public’s attention the attached Gazette, with “Effective Date” for the notice of 1 April 2025. The Gazette gives notice of the demonetization of the old cotton banknotes comprised of the $5000, $1000, $500, $100 and $50 denominations. Please be advised that three months after the Effective Date, that is on 1 July 2025, the old cotton banknotes will no longer be legal tender, in that, they cannot be used for transactions for goods and services. Notwithstanding, Bank of Jamaica will continue to redeem the old cotton banknotes for face value indefinitely.

Following the demonetization of the old cotton banknotes, cash transactions should be conducted using the new polymer banknotes, comprised of the $5000, $2000, $1000, $500 $100, and $50 denominations, that have been in circulation since June 2023, and the existing coin denominations of $20, $10, $5 and $1.