‘Stop Over-Reacting to Dollar Movements’ – Duncan

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Co-Chairman of the Economic Programme Oversight Committee, Keith Duncan, is cautioning against an over-reaction to the recent depreciation of the Jamaican dollar.

Mr. Duncan says it’s important that the reasons for the recent fluctuation in the dollar be understood.

Mr. Duncan says the reason for the recent depreciation of the dollar is not a cause for significant concern.

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The local currency is to open trading this morning selling at $130.31 to the US dollar.

Just two weeks ago, the currency had traded at an even 129 to the greenback.

Mr. Duncan says the movement is not significant. He says there’s no shortage of US dollars on the market.

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The EPOC Co-Chairman says it must be recognised that movement in the local currency is likely to be a talking point until Jamaica’s economy begins to grow in a significant way.

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Mr. Duncan was addressing EPOC’s recent media briefing at the JMMB’s Head Offices on Haughton Avenue in St. Andrew.

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Abka Fitz-Henley is a multiple award-winning journalist who is currently the Senior Reporter at Nationwide News Network (NNN). His primary areas of focus are Court, Crime and Parliamentary proceedings. Fitz-Henley was recently recognized in the regional celebrity magazine publication Panache as “The Breaking News Boss”. At 21 years of age, following his 1st year in media, Fitz-Henley was recognized with the Young Journalist of the year award from The Press Association of Jamaica and went on to cop one of the country’s highest recognized journalism prizes, the Journalist of the Year Award. He’s also been awarded the prestigious Corporate Jamaica Broilers Fairplay 1st place Award for investigative journalism and is the recipient of the Caribbean Blog Award for coverage of the infamous Kartel murder trial. Fitz-Henley is also the recipient of the PM Youth Award for Excellence. Over the years, he has appeared as a guest on the BBC World Service and BBC London.