Sunday 27 September, 2020

Jamaican dollar back in $125 territory after five-day depreciation

The Jamaica dollar remained in the $125 territory against the US currency on Monday reflecting a five-day depreciation swing.

It closed at $125.33 from the previous day at $125.19. It, however, still continues to trade at one of the strongest positions since January a year ago.

The latest round of depreciation started last Tuesday when the dollar entered $124 territory. The dollar regained over $12 since the start of February when it closed at $137.06 to US$1.

The last time the currency sold for $124 was back on January 22, 2018.

This round of depreciation came amid a notice from the Bank of Jamaica (BOJ) that it would neither buy nor sell foreign exchange until April 10.

The British Pound closed at $163.85 from $163.06. The Canadian dollar closed at $95.73 from 96.49.

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