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JA dollar strengthens
Jamaicans can buy major currencies including the US dollar nearly seven per cent cheaper than three months prior following the influx of capital into the economy.
In a rare move, the local dollar appreciated by 4.3 per cent, 1.7 per cent and 1.26 per cent against the British pound, US dollar and Canadian dollar respectively. Over the same period, the dollar also revalued against select emerging power economies including Australian dollar, Brazil Real and Chinese Yuan by 6.7 per cent, 1.7 per cent and 1.4 per cent respectively. The British pound sold for an average $128.59 yesterday which was more than $5.78 cheaper than $134.37 on March 1; interestingly the pound was $7 dollars cheaper a day prior on Monday.
The powerful US dollar sold for an average $88.13 or $1.58 less than on March 1. In fact some cambios sold the greenback for as low as $82.50 yesterday which was 8.0 per cent cheaper than the average rate on March 1. The Canadian dollar sold for an average $84.27 yesterday, $1.08 cheaper than $85.35 on March 1.
http://www.jamaicaobserver.com/busin...gthens_7667438
Jamaicans can buy major currencies including the US dollar nearly seven per cent cheaper than three months prior following the influx of capital into the economy.
In a rare move, the local dollar appreciated by 4.3 per cent, 1.7 per cent and 1.26 per cent against the British pound, US dollar and Canadian dollar respectively. Over the same period, the dollar also revalued against select emerging power economies including Australian dollar, Brazil Real and Chinese Yuan by 6.7 per cent, 1.7 per cent and 1.4 per cent respectively. The British pound sold for an average $128.59 yesterday which was more than $5.78 cheaper than $134.37 on March 1; interestingly the pound was $7 dollars cheaper a day prior on Monday.
The powerful US dollar sold for an average $88.13 or $1.58 less than on March 1. In fact some cambios sold the greenback for as low as $82.50 yesterday which was 8.0 per cent cheaper than the average rate on March 1. The Canadian dollar sold for an average $84.27 yesterday, $1.08 cheaper than $85.35 on March 1.
http://www.jamaicaobserver.com/busin...gthens_7667438
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