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Feb 9: JMD slides as demand ramps up

Published:Tuesday | February 9, 2016 | 2:41 PM

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.

business@gleanerjm.com