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The steady nose-dive of the Jamaican dollar is continuing.
It was another day of decline for the local currency on Thursday with some authorised dealers selling the American currency for a new high of J$77 with J$76.24 was the average going rate.
The Jamaican dollar has depreciated by nearly 5% against its American counterpart over the past four weeks.
At the close of trading last month it took an average J$72.56 to purchase the US dollar.
There is mounting concern about the drastic slide in the value of the dollar despite a statement by Finance Minister Audley Shaw that there is no need for alarm.
Earlier this week Mr. Shaw said the slippage is in keeping with demand-pressures that are traditional at this time of the year.
http://www.radiojamaica.com/content/view/12827/52/
It was another day of decline for the local currency on Thursday with some authorised dealers selling the American currency for a new high of J$77 with J$76.24 was the average going rate.
The Jamaican dollar has depreciated by nearly 5% against its American counterpart over the past four weeks.
At the close of trading last month it took an average J$72.56 to purchase the US dollar.
There is mounting concern about the drastic slide in the value of the dollar despite a statement by Finance Minister Audley Shaw that there is no need for alarm.
Earlier this week Mr. Shaw said the slippage is in keeping with demand-pressures that are traditional at this time of the year.
http://www.radiojamaica.com/content/view/12827/52/