#TalkbackTuesday | Will the Ja dollar settle?
The Jamaica dollar has been trading at an all-time low for the past three weeks. Yesterday morning, trading opened at J$141.95 to US$1. We asked our social media followers: How comforted are you by the pronouncements of the Bank of Jamaica that the slide in the value will soon abate? #TalkbackTuesday.
Not good. Jamaica needs to export marijuana to bring back the economy.
Currency devaluation = Stagnant economy; less spending power, salaries remain constant, imports become more expensive (goods and raw materials), etc. Even if we were to believe this argument that it will “soon abate”, what does that mean, when people have been told for years to “ban their bellies”? So obviously by now we’ve become banged-belies with “wire waist”.
Unu need to stop watch it, for true. We are trying to save our dollar, which would mean there is going to irregularities in the change of dollar. It won’t happen overnight. So even I’m waiting to see it touch $150. We all know it will reach, so plan accordingly.
What reason do they have for it sliding and what does Jamaica have going for it that can add value to the dollar?
I am definitely not comfortable with pretty talk. The dollar will continue to slide and it’s hurting all Jamaicans who are buying less for more money. With basic commodities going up and salaries remaining constant, it only shows that we are all on a downward spiral.
The fact that they say “soon” is the heart of the problem. How soon is soon? What time is “soon come”?