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$87.06.
For more information about the role of the exchange rate under the IMF program check out our IMF Special Report. Fueled by research, it is the first and only online information portal about Jamaica’s relationship and interaction with the IMF, providing valuable news, data, timelines and resources.
diG deeper:
- In Case You Missed It (ICYMI) – 14% Y-o-Y Depreciation of Monthly Average US$ Selling Rate – January
- Indicative rates for the last day of each month from January 2013 to December 2013
- The role and objectives of the Central Bank of Jamaica – DigJamaica Directories
- The Memorandum of Economic Financial Policies – IMF Agreement
