Prime Minister Andrew Holness says he’s confident the Jamaican dollar will rebound following recent depreciation.
Mr. Holness is appealing for calm following what he says is panic in some quarters about the depreciation.
The Prime Minister and JLP Leader addressed the issue while he spoke at a party meeting in St. Catherine last night.
The Prime Minister says there appears to be some irrational behaviour which has influenced the recent depreciation of the Jamaican dollar.
Mr. Holness says there appears to be people who are betting against the local currency despite the fact that all the fundamentals of the local economy are heading in the right direction.
The Prime Minister hinted last night that betting against the Jamaican currency may not be a sound business decision.
Meanwhile, Mr. Holness says it’s important Jamaica maintains it’s current, record USD$3-billion of net international reserves.
He says the Government is committed to a flexible exchange rate policy.
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