Wednesday, January 14, 2015 | 5:50 PM
KINGSTON, Jamaica — The US dollar on Wednesday, January 14 ended trading at J$115.14, up nine cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
Meanwhile, the Canadian dollar closed at J$97.78, up from J$96.12 while the British pound sterling ended trading at J$174.87 up from J$173.63.
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Wednesday, January 21, 2015 | 4:51 PM
KINGSTON, Jamaica — The US dollar on Wednesday, January 21 ended trading at J$115.45, up six cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
Meanwhile, the Canadian dollar closed at J$96.39, up from J$95.98 while the British pound sterling ended trading at J$174.46 up from J$173.76.
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Wednesday, January 14, 2015 | 5:50 PM
KINGSTON, Jamaica — The US dollar on Wednesday, January 14 ended trading at J$115.14, up nine cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
Meanwhile, the Canadian dollar closed at J$97.78, up from J$96.12 while the British pound sterling ended trading at J$174.87 up from J$173.63.
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Friday, January 02, 2015 | 5:17 PM
KINGSTON, Jamaica — The US dollar on Friday, January ended trading at J$114.68, up two cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
Meanwhile, the Canadian dollar closed at J$97.65, down from J$97.70 while the British pound sterling ended trading at J$176.31 down from J$177.68.
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Tuesday, January 06, 2015 | 5:36 PM
KINGSTON, Jamaica — The US dollar on Tuesday, January 6 ended trading at J$114.72, up eight cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
Meanwhile, the Canadian dollar closed at J$96.70, down from J$96.82 while the British pound sterling ended trading at J$173.61 down from J$174.90.
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Wednesday, December 17, 2014 | 5:36 PM
KINGSTON, Jamaica — The US dollar on Wednesday, December 17 ended trading at J$114.48, up seven cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
Meanwhile, the Canadian dollar closed at J$97.90, down from J$98.82 while the British pound sterling ended trading at J$180.05 up from J$179.17.
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There has been a quick claim of vindication from the opposition Jamaica Labour Party (JLP) in response to the decision of the Bank of Jamaica to intervene in the foreign exchange market.Opposition Spokesman on Finance and Planning Audley Shaw has labeled the Central Bank’s move as one that is in line with the policy of stability “promoted and successfully applied by the Jamaica Labour Party.”
“We have been warning the government for months that devaluation is hurting business, hurting people and hurting Jamaica. We were criticized for our positions, but as the higher prices and speculation have become chronic along with undeniable reductions in exports, it seems the BOJ has finally woken up,” Mr. Shaw said in a press release on Thursday.
But even while welcoming this step, Mr. Shaw declared that it did not go far enough. “Investors do not know the direction of the government so businesses cannot plan. The Government could decide next week to start devaluation again and this possibility does not bring confidence to the market and to the business sector,” he said.
Accordingly, Mr. Shaw wants the government to “state its policy direction clearly, and its policy must create a stable and predictable environment.”
Furthermore, he said, if Jamaica is to benefit from the current IMF agreement, “the government must also come up with a proper growth and development policy that is bankable and saleable,” one that includes a robust growth strategy.”
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Manufacturers say Jamaica National Building Society, JNBS, has decided to help alleviate the foreign exchange shortage they are facing, by creating a special window. It allows producers to access foreign currency. The word came from President of the Jamaica Manufacturers’ Association, JMA, Brian Pengelley, who said it was achieved after lengthy negotiations with the Bank of Jamaica and other financial institutions. JNBS is so far the only entity to accede to the manufacturers’ request. Mr Pengelley says the mechanics of the agreement are yet to be worked out. Manufacturers have been complaining that a shortage of foreign currency has been affecting their ability to pay for raw materials.
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Manufacturers say Jamaica National Building Society, JNBS, has decided to help alleviate the foreign exchange shortage they are facing, by creating a special window. It allows producers to access foreign currency. The word came from President of the Jamaica Manufacturers’ Association, JMA, Brian Pengelley, who said it was achieved after lengthy negotiations with the Bank of Jamaica and other financial institutions. JNBS is so far the only entity to accede to the manufacturers’ request. Mr Pengelley says the mechanics of the agreement are yet to be worked out. Manufacturers have been complaining that a shortage of foreign currency has been affecting their ability to pay for raw materials.
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Thursday, January 23, 2014 | 5:38 PM
KINGSTON, Jamaica — The US dollar traded at an average J$107.19 on Thursday, January 23, 2014, according to the Bank of Jamaica’s daily foreign exchange trading summary.
Trading closed at an average J$107.20 to one $US on Wednesday, January 22.
Meanwhile, the Canadian dollar traded for J$97.09 and the British pound ended trading at J$177.61 on Wednesday.
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Tuesday, December 31, 2013 | 5:54 PMHOUSE RULES
1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper – email addresses will not be published.
2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.
3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.
4. Please do not write in block capitals since this makes your comment hard to read.
5. Please don’t use the comments to advertise. However, our advertising department can be more than accommodating if emailed:mailto:advertising@jamaicaobserver.com.
6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.
7. Lastly, read our Terms and Conditions and Privacy Policy
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