JCC President Laurence Watson
The Jamaica Chamber of Commerce (JCC) is urging its members to focus on productivity instead of the local currency which is now trading at its lowest against the US dollar.
The American currency ended trading on Wednesday at J$131.58.
JCC President Laurence Watson, while acknowledging that there will be adjustments in the prices of goods and services due to changes in the exchange rate, said businesses should place attention elsewhere.
"Increase in their productivity, increase in their exports, and once that happens then our country will be on the right track," he reasoned, adding that "The rate of the Jamaican dollar is only one component of a very complex network of issues."
Mr. Watson said he is in agreement with the Central Bank that Jamaicans should not panic due to the movement of the dollar in the wake of stable inflation.
The Jamaican dollar started to slide against the US dollar about a week ago after trading steadily for more than eight months.