The Foreign Exchange Market The Jamaican dollar experienced a rapid depreciation in the exchange rate during 2020 due to the pandemic's impact on key sectors. The exchange rate in 2020 closed at J$142.65 to US$1.00, after opening the year at J$132.57, resulting in a 7.6 per cent depreciation. As at Friday September 16, 2022, the exchange rate was at approximately $ JA 150 to US $1 Arguments for and against fixed exchange rate.

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