Feb 9: JMD slides as demand ramps up
The Jamaica dollar gave up the gains made Monday in the foreign exchange market. On Tuesday, the currency fell more than 12 cents against the US dollar to end at $121.57 in a chase for foreign cash that exceeded supplies.
The JMD also lost 38 cents against the Canadian dollar to close the day at an average rate of $86.96 and 41 cents against the pound sterling at $174.08.
In the US dollar market, demand topped US$40.7 million, while traders scored just US$27 million.