Kingston.
The Jamaican dollar reached traded at a record high against the United States (US) yesterday with the aravage selling rate climbing to $1100.08 according to the Bank of Jamaica foreign exchange trading summary.
The local currency also lost ground against the Canadian dollar and the British pound sterling, the weighted average selling rates finishing at J$97.90 and J$155.43, respectively.
Traders sold US$40.4 million for as high as J$104.54, and purchased US$29.5 million, the highest at J$101, the BOJ data revealed.
Just over a year ago, the US dollar was trading at an average rate of about J$86.61, the previous year in the region of J$85.77. It crossed the J$87 mark on February 28, 2012, reached J$88 on May 30, J$89 on July 10, J$90 on October 3, J$91 on October 23, and J$92 on December 5, last year.
