Jamaican dollar reaches historic high of J$110 to US$1

After losing approximately 12 percent of its value when compared to the US dollar over a one year period, the Jamaican dollar seems to be coasting along just fine on its path of devaluation.

The historic high against the US dollar came at the close of foreign exchange trading today.

The American dollar gained $0.04 to end at an average of J$110 to US$1.

In further trading, the Canadian dollar slipped by $0.52 to finish at an average selling rate of J$99.31 to CAN$1, while the British pound strengthened by $0.23 to close at an average of J$184.82 to £1.


On the markets, the American dollar sold for a high of $114.28 and a low of $90.59.

How much further devaluation are you anticipating by year’s end? Let us know in the comments.

Jamaican dollar 110 to 1 US April 24 2014

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