**Please note the scale on the left hand side of the chart does not start at zero, this helps to magnify the changes in the exchange rate for the period.
December 31, 2013 , the Jamaican Dollar traded for an average selling rate of J$106.38 to US$1.
The decline represents a 7% 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 14% when compared with the closing selling rate J$92.98 in December 2012 and 13% if compared with the closing rate for January 2013 J$94.14.
The vertical bar graph above shows indicative exchange rates for the last day of December from 2009 to December 2013.
When the closing rate for December 2013 J$106.38 is compared to the closing rate for the corresponding period in December 2009 J$89.60, the Jamaican Dollar has depreciated by 19%.
For all of the “Chart Nerds” out there, diGJamaica has tracked the depreciation of the Jamaican dollar against the change in the major Jamaica Stock Exchange Market Indices since the end of December 2012. This is depicted in the chart here.
For more information about the role of the exchange rate under the IMF program check out ourIMF 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.
- In case you missed it, November’s update on the exchange rate
- Image showing 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