Jamaican Dollar

Mahfood Rubbishes Strategic Devaluation

At least one business leader is rubbishing claims that the devaluation of the Jamaican dollar helps to boost the country’s exports.

John Mahfood is CEO of Jamaican Teas, which is listed on the Junior Stock Exchange and exports to several countries.

The exchange rate is now JMD$120.03 to USD$1.

Mr. Mahfood says contrary to repeated claims by government officials, this is bad for exporters.

And Mr. Mahfood, whose business also includes construction, has some recommendations for the government to spur growth.

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  • chikV2Ebola

    Devaluation only helps the hotel owners and those who trade in foreign exchange.but for us the consumers it means paying daily price increases !