Bank of Jamaica Governor Richard Byles - FILE PHOTO
Central bank governor Richard Byles has revealed that the value of the Jamaican dollar fell by 2.1% during month of November, compared with the corresponding period last year.
He emphasised that the depreciation was higher than the1.1% recorded during the 12 month period November 2022 to November 2023.
Meanwhile data released by the debt management unit in the Ministry of Finance & The Public Service indicated that one per cent depreciation in the value of the dollar against its US counterpart leads to an increase in the debt stock by approximately $13 billion. This is accompanied by a 609 million dollar increase in interest charges.
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