US dollar could hit $80 mark

[evanovitch]

US dollar could hit $80 mark
Wednesday, 10 December 2008
There are signs that the American currency could hit the $80 mark in a matter of days.

The local currency came under more pressure on Tuesday with information from the Bank of Jamaica showing that some authorised dealers sold the US dollar for $79.65 cents.

At the close of trading it was costing an average $78.66 cents for the American currency.

News that Jamaica will shortly receive the proceeds of three major loans disbursed by multilateral agencies appears to have had little effect in easing anxiety in the foreign market.

Finance Minister Audley Shaw is due to host a press conference on Wednesday afternoon with Managing Director of the International Monetary Fund (IMF) Dominique Strauss-Kahn who is on a one day visit to Jamaica.

Both men will outline the results of talks on plans to provide Jamaica will financial support.

[X]

Re: US dollar could hit $80 mark

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: evanovitch</div><div class="ubbcode-body">US dollar could hit $80 mark
Wednesday, 10 December 2008
There are signs that the American currency could hit the $80 mark in a matter of days.

The local currency came under more pressure on Tuesday with information from the Bank of Jamaica showing that some authorised dealers sold the US dollar for $79.65 cents.

At the close of trading it was costing an average $78.66 cents for the American currency.

News that Jamaica will shortly receive the proceeds of three major loans disbursed by multilateral agencies appears to have had little effect in easing anxiety in the foreign market.

Finance Minister Audley Shaw is due to host a press conference on Wednesday afternoon with Managing Director of the International Monetary Fund (IMF) Dominique Strauss-Kahn who is on a one day visit to Jamaica.

Both men will outline the results of talks on plans to provide Jamaica will financial support.





</div></div>

kisteeth
wasnt it just a short 4 mths ago the US $ was at say $69 and the CDN$ was ay $67
Now the US$ deh $78 and di CDN$ inna di $50s ??
awheydi??!!!
frikin petro dolla

[evanovitch]

Decline in Jamaican dollar approaching crisis level

Decline in Jamaican dollar approaching crisis level
Thursday, 11 December 2008
The rapid decline in the value of the Jamaican dollar is nearing crisis level with the American currency now selling for more than $80.

On Wednesday dealers traded the US currency for as much as $80.10.

The average selling rate reported by the Central Bank was $79.62.

This means that the Jamaican dollar has lost one percent in the value against its US counterpart in the past week and more than 10% since the start of the year.

News that Jamaica will shortly receive the proceeds of three major loans from multilateral agencies have had little effect in easing anxiety in the foreign currency market.

This is further bad news for the productive sector which has already been battered by the global financial crunch.

The fall in the value of the dollar means that manufacturers will now have to fork out more money to pay their overseas suppliers.

[Dr.Dudd]

Re: US dollar could hit $80 mark

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: xKs_yaMaye_xKs</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: evanovitch</div><div class="ubbcode-body">US dollar could hit $80 mark
Wednesday, 10 December 2008
There are signs that the American currency could hit the $80 mark in a matter of days.

The local currency came under more pressure on Tuesday with information from the Bank of Jamaica showing that some authorised dealers sold the US dollar for $79.65 cents.

At the close of trading it was costing an average $78.66 cents for the American currency.

News that Jamaica will shortly receive the proceeds of three major loans disbursed by multilateral agencies appears to have had little effect in easing anxiety in the foreign market.

Finance Minister Audley Shaw is due to host a press conference on Wednesday afternoon with Managing Director of the International Monetary Fund (IMF) Dominique Strauss-Kahn who is on a one day visit to Jamaica.

Both men will outline the results of talks on plans to provide Jamaica will financial support.





</div></div>

kisteeth
wasnt it just a short 4 mths ago the US $ was at say $69 and the CDN$ was ay $67
Now the US$ deh $78 and di CDN$ inna di $50s ??
awheydi??!!!
frikin petro dolla

</div></div>I told you to take advantage of it while you could, because th ewhole currencyrate is controlled by the system. Jamaica's rate always drop drastically everytime the minimum wage rate raise to attempt to match it and the present prices.
So as soon as the people think they are going to benefit,the powers move the goal post a little farther,so they have to try again in futillity.

[Sinco01]

Re: US dollar could hit $80 mark


It'll probably hit $100 next year