Jamaican dollar is May's top performer in the west
A report on news website Bloomberg.com has stated that the Jamaican dollar has outperformed all other currencies in the Western hemisphere this month.
It notes that after falling 6.5 per cent in the first four months of the year, the Jamaican dollar has climbed 0.1 per cent this month to 98.725 per dollar.
Bloomberg says the Jamaican currency is the only one of 16 Latin American and Caribbean currencies that it tracks to gain against the United States dollar.
The report states that the Brazilian real and Mexican peso both lost about 5 per cent against the dollar over the same period, while the Canadian dollar fell 2.2 per cent.
The report attributes the performance of the Jamaican dollar to the country’s signing of a deal with the International Monetary Fund.
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