Why the burdensome exchange rate?
Published:Wednesday | February 4, 2026 | 12:13 AM
THE EDITOR, Madam:
Why is the $US/JA exchange rate seemingly stuck at the $US1 to $JA150 plus? What is the primary force and/or source driving this longstanding and exorbitantly high rate of exchange? Given that the Bank of Jamaica (BOJ) and the local commercial banking sector are no longer short of $US dollars, as was the case in the ‘80s and ‘90s, why, then, has the status quo remained so firmly in place?
Why can’t a lower $US to &JA exchange rate be achieved in 2026 when Jamaica’s tourism industry has been consistently booming over the past decade, and net international reserves have consistently grown over this period?
Is Jamaica forever to be stuck with this exorbitantly high $US to $JA exchange rate regime – with its middle and lower class citizens continuing to suffer the negative economic impact?
PATRICK GALLIMORE