Economy Update: Jamaican Dollar Continues To Depreciate

Source: Bank of Jamaica
Source: Bank of Jamaica

February 28, 2014 , the Jamaican Dollar traded for an average selling rate of J$108.34.

The decline represents a 9% depreciation in the selling rate since the approval of the IMF Agreement on May 1, 2013, when the JMD dollar trading for an average J$99.33 to US$1.

The currency declined by 11% when compared with the closing selling rate J$97.11 in February 2013 and it had an even higher depreciation of  27% against the average closing rate for February 2012 J$87.06.

For more information about the role of the exchange rate under the IMF program check out our IMF Special Report.  Fueled by research, it is the first and only online information portal about Jamaica’s relationship and interaction with the IMF, providing valuable news, data, timelines and resources.

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