Hill: ‘No Panic’ As Dollar Takes Fastest Depreciation Since 2013


Government Senator, Aubyn Hill, is dismissing comments made by Dr. Phillips that the recent accelerated depreciation of the Jamaican dollar is an indication of declining confidence in the economy.

Dr. Phillips made the comment while he addressed a media briefing on Wednesday.

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Senator Hill says he’s shocked at the former Finance Minister’s comments.

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Meantime…Mr. Hill says word that the dollar is depreciating as a result of money leaving the economy to buy Goldman Sachs bonds is to be treated as speculation.

The dollar ended trading yesterday at 1-hundred-and-25-dollars-14-cents to a 1-US-dollar.

At the end of February, it was trading at 1-hundred-and-21-dollars.

Checks by Nationwide News show that the current decline in the value of the dollar is the fastest rate of depreciation over a 3-month period since the first quarter of 2013.

4 thoughts on “Hill: ‘No Panic’ As Dollar Takes Fastest Depreciation Since 2013

  1. prizm

    Dr Peter Phillips is not the only one who said it. The head of the PSOJ made that same comment on a RJR mid day news during the course of this week so why not attack him also.

  2. Dushiegirl

    Why NNN never post when Aubyn Hill said back in 2013/2014 that the $ should trade at $150. We remember those speech . NNN have the tapes replay them . Hill well want it reach $150 he is at right the place to do so .

  3. Bryan Watson

    After his mishandling go the sugar deal which became a disaster I would not take anything he says seriously.

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