Weak Dollar Persists

Dollar - July

July 31, 2014, the last day of trading for the month, the US Dollar traded for an average selling rate of J$112.85 for US$1.

The decline represents a 14% depreciation in the selling rate since the approval of the IMF Agreement on May 1, 2013, when the Jamaican dollar traded for an average J$99.33 to US$1.

The currency declined by 11% when compared with the closing selling rate J$101.86 in July 2013 and it had an even higher depreciation of 26% against the average closing rate for July 2012 J$89.78.

 Indicative exchange rates for the last day of each month from January 2013 to July 2014

exchange_rates_monthly
Click To Enlarge Image

**diGgers please note that the scale on the left and right hand side of the chart does not start at zero, this helps to magnify the changes.