Bank of Jamaica Governor, Brian Wynter, says the Jamaican dollar has remained stable against the benchmark US currency, and is further proof that the local currency is fairly valued.
Mr. Wynter says the stability is a result of the positive trends in the current account deficit.
The Jamaican dollar is currently just over 128 dollars to one US dollar. It’s remained within that range over the last month. But Mr. Wynter says it’s time to move away from focusing solely on the exchange rate trends in assessing economic performance.
He says Jamaicans should move away from speculation and buy foreign exchange based on needs.
And the Central Bank Governor says the current administration has done what’s necessary to create an environment for the achievement of significant private sector growth.
Brian Wynter was speaking with Nationwide News today at the BOJ’s Headquarters in downtown, Kingston.