THE JAMAICAN dollar lost another 23 cents in trading against its United States counterpart yesterday, pushing the average selling rate of the local currency to $60.96, according to data released by the Bank of Jamaica (BoJ).
The buying rate rose to $60.64, a 17-cent depreciation over last Friday's weighted average. The dollar cleared the $60 mark for the first time last week and has continued to plummet, despite the BoJ's reported intervention in the foreign exchange market.
At the end of trading yesterday, the BoJ reported that the highest selling rate of the US dollar was $63, while the highest buying rate was $62.20.
There has also been a concomitant movement in the Canadian dollar, whose average selling rate jumped to $43.55 from last Friday's high of $42.86, as well as the British pound sterling, which sold for $98.18, about 54 cents higher than it traded on Friday.
