In the forex market, the JMD straighten for a second consecutive week. The JMD strengthen by as much $3.14 this week. In comparison to the benchmark USD, the JMD appreciated by $0.76 to close at $135.44.
Despite intervention in the forex market by the Bank of Jamaica (BOJ), the USD continues to slide, worrying stakeholders island wide. The USD now trades at US$1:J$135.86, a $1.28 decline over the previous week. This week the JMD has declined against all the major traded currencies.
This week in the Forex market, the JMD continues to weaken against the major traded currencies. The benchmark USD strengthen by $2.80 this week against the JMD. Year to date, the JMD has lost as much as 8.30% of its value to the major currencies.
In the forex market this week, the JMD continues to strengthen against the USD. The JMD also performed favourably this week against the British Pound (GBP), however, weakened against the Canadian Dollar (CAD) and the Euro, depreciating by $1.06 and $0.12, respectively.
The Jamaican Dollar (JMD) enjoyed another week of positive performance in the forex market. The JMD appreciated against the major traded currencies; the dollars advanced by as much $1.42 this week. Consequently, the JMD continues to trade below the exchange rate at the start of 2019.
The Jamaican Dollar (JMD) saw further gains in the forex market this week. The JMD appreciated against all the major traded currencies; the dollar appreciated by as much as $4.36 this week. Consequently, the JMD now trade below the opening 2019 rate. At J$126.47:US$1, the JMD is at an almost four month high.