Thursday 26 November, 2020

Jamaican dollar gains 53 cents against US greenback

Jamaicans can now save over $3 on each purchase of US$1 when compared with the rates in August.

The local currency appreciated by 53 cents against the United States dollar on Monday, according to the foreign exchange summary issued by the Bank of Jamaica.

The dollar closed trading at $146.89 on Monday from $147.42 on Friday.

It has appreciated since September after surpassing the psychological barrier of $150 to US$1 on Wednesday August 12. The rate on Monday is $3.11 cheaper than levels in August.

The dollar, however, still has more to appreciate if it plans to recover from the $139 range it traded in July.

On Monday, the British Pound Sterling closed at $195.078 and the Canadian dollar closed at $111.27.

Among the authorized dealers, Sagicor Bank Jamaica sold the currency to the public at the most expensive or $148.75 for US$1 while First Global Bank sold it at the most reasonable among the dealers at $145.68.

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