Jamaican dollar reaches a new low

[Lazie]

The value of the Jamaican dollar has reached a new low with some foreign currency dealers selling the US dollar close to the 70 to one mark.

According to the Bank of Jamaica's summary sheet of foreign currency trading Wednesday, the highest selling rate reported for the US dollar was $69.50.

The average selling rate was $68.72.

The sharp movement follows a recent forecast by financial analyst John Jackson that the exchange rate will reach 72 to one by early next year.

Excess liquidity in the market has been blamed for the continuing decline in the local currency.

In the meantime, it is costing $65.20 to purchase the Canadian dollar and $138.97 for the pound sterling.

[Lazie]

Do we blame the JLP for this especially that election round the corna? No ... the IMF is a better scapegoat, what unuh think? Or we stick to the M.O. and blame Seaga?

In her speech Sunday night I hear Portia talk bout don't stop the progress! I guess a Karl and Boy George would buy that. Now that the $ is now 70 what Portia affi say .... "Not Changing No Course!!"

[Muadib]

Do we blame the JLP for this especially that election round the corna? No ... the IMF is a better scapegoat, what unuh think? Or we stick to the M.O. and blame Seaga?

In her speech Sunday night I hear Portia talk bout don't stop the progress! I guess a Karl and Boy George would buy that. Now that the $ is now 70 what Portia affi say .... "Not Changing No Course!!"

Standards drop in fundamental areas.. yet it is called Progress ?

Religion makes fools of many but Karl is really reaching new heights..

The PNP have been claiming progress since 2000 yet Karl says their performance has been poor...

Somebody is lying... how do you Trust ?

[HL]

I don't log on to this part of the forum a lot--but i notice ongle you maudib an' lazie are alone in 'church' preechin' to wan-an-other.

Seems like there there are a lot of back-sliders