Friday 28 July, 2017

Jamaican dollar slides 16 cents against US greenback

The Jamaican dollar lost 16 cents against the US dollar on Thursday, hitting another all time low, according to the trading summary from the Bank of Jamaica (BOJ).

It closed at $130.46 against the US dollar from $130.30 on the prior trading day. The depreciation of the local currency has intensified since the start of the new fiscal year in April.

The British Pound Sterling closed at $168.23 from $169.31, while the Canadian dollar closed at $96.20 from $96.29.

Total foreign exchange purchases of all currencies equated to US$26.7 million while total currency sales equated to US$29.6 million.