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Researcher and economist Dr Michael Witter is raising concern about statements by two financial experts regarding the devaluation of the Jamaican dollar.
Last week the selling rate for US$1 passed the JA$87 mark.
Financial analyst Dennis Chung has said he is not surprised by the continued slide of the local currency while economist Dr Davidson Dawey, says he expects the value of the local currency to further decline, reaching as high as JA$89 to US$1 in the next few months.
But writing in today’s Financial Gleaner Witter, who is a senior research fellow at the University of the West Indies, Mona, said speculation may drive Jamaicans to stash away foreign currency as has happened in the past.
According Witter, he is not aware that the comments by Chung and Dawey are based on technical and scientific research.
He is urging speculators to do the necessary research before making comments that could hurt the economy.
Last week the selling rate for US$1 passed the JA$87 mark.
Financial analyst Dennis Chung has said he is not surprised by the continued slide of the local currency while economist Dr Davidson Dawey, says he expects the value of the local currency to further decline, reaching as high as JA$89 to US$1 in the next few months.
But writing in today’s Financial Gleaner Witter, who is a senior research fellow at the University of the West Indies, Mona, said speculation may drive Jamaicans to stash away foreign currency as has happened in the past.
According Witter, he is not aware that the comments by Chung and Dawey are based on technical and scientific research.
He is urging speculators to do the necessary research before making comments that could hurt the economy.
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