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Gov't unfazed as Jamaican dollar slides past $130

Fayval Williams, Minister Without Portfolio in the Ministry of Finance
 
The Government appears unperturbed by the recent slide in the value of the Jamaican dollar, saying exchange rate movements in either direction are normal.
 
Fayval Williams, Minister Without Portfolio in the Ministry of Finance, says recent large transactions created more demand for US dollars in the market. But she expects that once these transactions are completed, the rate will go back to normal. 
 
The Central Bank has also advised Jamaicans not to panic due to the movement of the dollar in the wake of stable inflation.
 
The Jamaican dollar started to slide against the US currency about a week ago after trading steadily for more than eight months. 
 
The American currency ended trading on Wednesday at J$131.58. 
 


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