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.
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.
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.
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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