JMD Appreciation will Improve Standard of Living

Economist Dr. Damien King says the current appreciation of the Jamaican dollar will improve the standard of living in the country.

The Jamaican dollar started appreciating in December last year.

That was the first year since 2010 that the currency has revalued.

This due largely to the Bank of Jamaica’s Foreign Exchange Intervention and Trading Tool, B-FXITT, launched in August.

Dr. Damien King — who’s also Executive Director of the Caribbean Policy Research Institute — says the low rate of inflation will also positively affect investment.

He says the appreciating dollar is encouraging people to buy locally instead of importing.

Dr. King says he expects the Jamaican dollar to remain in the region of JMD$130 throughout this year.

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2 thoughts on “JMD Appreciation will Improve Standard of Living

  1. Nathan777

    This is great news, I would love to the the Jamaican dollar fall back below $100. That would be great, hope it can happen within the next five years.

    Reply

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