MINISTER of Finance and the Public Service Audley Shaw says the Bank of Jamaica will continue to closely monitor the issues which led to the most recent devaluation of the Jamaican dollar.

“My information is that all the foreign exchange that is required is now available. The Bank of Jamaica has intervened and will continue to do so until all the issues are resolved,” Shaw told the Jamaica Observer yesterday.

His remarks followed the revelation by Bank of Jamaica (BOJ) Governor Bryan Wynter that the slide was primarily due to local investors holding on to US dollars for “specific financial account transactions”.

Wynter conceded at a quarterly BOJ press briefing, at the bank’s downtown Kingston headquarters, that there has been “a noteworthy pickup in the pace of exchange rate depreciation since the middle of April”.

http://www.jamaicaobserver.com/news/Government–BOJ-say-dollar-slide-now-under-control_62202