The Jamaican dollar now trades at $142.23.

The Jamaican dollar now trades at $142.23.

This means, if you’re to purchase $1 USD you need to allocate a whopping $143.23 for each unit.

Mid December we breached the $140 level for the first time and this caused anxiety among the Jamaican population.

The dollar then made a pullback and fluctuated around the $133-$136 area. Just 6 weeks ago we were around that same $136 area before we started seeing that surging move to the $140 level.

Seeing that the US has printed 2 trillion dollars to issue out stimulus packages the dollar is expected to decrease in value but with oil still being pegged to the usd, it reigns supreme to all other currencies.

With the current pandemic (covid 19) we’ve seen how many different economies have been hindered like the Lebanon economy that is currently experiencing a downward spiral with their currency.

Always remember, if every fiat currency eventually goes to zero, then it is only a matter of time before the global reserve currency hits the fan.