Tag: foreign exchange

  • The Story Behind Jamaica’s Floating Exchange Rate

    The Story Behind Jamaica’s Floating Exchange Rate

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    by

    Dayton Outar
    in ,

    Today the Jamaican dollar moves freely in response to supply and demand in the foreign exchange market. This was not always the case. Jamaica’s current system—where the exchange rate is largely market-determined—is the result of a long transition from a tightly controlled foreign exchange regime to a modern monetary policy framework. For many years, Jamaica…