Weekly Round-up: Dollar slide under control...WISYNCO fire...Gov't commits US$150k to Racers Grand Prix

Saturday, May 28, 2016

Print this page Email A Friend!


KINGSTON, Jamaica – The Bank of Jamaica (BOJ) sold some US$158 million to the foreign exchange market in an effort to stem the slide of the Jamaican dollar.
Described as the biggest-ever intervention by the BOJ, Governor Bryan Wynter and finance minister Audley Shaw both say the dollar slide is now under control.
On January 1 this year, the average rate of exchange was J$120.24 to one US dollar. But on Thursday, May 26, it was J$125.42 to US$1.
Meanwhile, on Thursday the Wisynco warehouse at Lakes Pen, St Catherine was destroyed by fire.
The fire at the warehouse, which serves the entire WISYNCO portfolio, including WISYNCO Foods, Wendy's and Dominoes, resulted in heavy losses but no injuries.
In sport, the Government has committed US$150,000 to the inaugural Racers Grand Prix set for June 11.
The Racers Grand Prix will see over 100 athletes from 10 countries participating.

ADVERTISEMENT




POST A COMMENT

HOUSE RULES

1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy



comments powered by Disqus
ADVERTISEMENT

Poll

ADVERTISEMENT
ADVERTISEMENT

Today's Cartoon

Click image to view full size editorial cartoon
ADVERTISEMENT