Saturday 28 November, 2020

Jamaican dollar strengthens by nearly $1

The local currency appreciated by 98 cents against its US counterpart on Tuesday according to the foreign exchange summary issued by the Bank of Jamaica.

The dollar closed trading at $145.91 on Tuesday from $146.89 on Monday.

It appreciated by $1.51 since Monday, on its path further away from the $150 to US$1 mark.

The dollar first surpassed that mark on Wednesday August 12. Contrastingly, the dollar traded at $139 in July.

On Tuesday, the British Pound Sterling closed at $193.21 and the Canadian dollar closed at $110.45. Among the authorized dealers, Sagicor Bank Jamaica sold the currency to the public at the most expensive or $148.32 for US$1 while JN Bank sold it at the most reasonable among the dealers at $142.14.

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