The Jamaican dollar recently crossed the J$160 to US$1 mark, and many Jamaicans are wondering what happens next. 

Speaking on Taking Stock with Kalilah Reynolds, Senior Trader at JMMB, Andre Reid, said the movement is likely to continue a bit more before it settles down.

“We should be relatively stable once we go towards the latter part of the year,” Reid noted.

He explained that right now, there is real demand for US dollars. Businesses need foreign currency to import goods and services. This demand is what’s pushing the rate higher, not panic buying.

He emphasised that even though many Jamaicans saw the J$160:US$1 mark as a psychological barrier, there’s no need to panic. 

He added that the Bank of Jamaica has been keeping an eye on things. 

Reid shared that the BOJ has already sold about US$440 million into the market this year. That’s more than half of the total trading volume. But the BOJ doesn’t sell to just anyone, it only sells to businesses that need US dollars for real trade, not just to hold or invest.

Reid said the BOJ isn’t afraid of the rate going up or down. What they don’t want is wild swings. As long as the movement is slow and steady, they are comfortable.

“What the BOJ wants is orderly movement,” he added.

Some people worry the rate could hit J$200 to US$1, but Reid doesn’t think that’s likely anytime soon. “Not based on the numbers we’re seeing right now,” he said.

He also noted that when the year ends and holiday spending picks up, there may be more Jamaican dollars moving around. This could help the exchange rate improve slightly.

For now, people should stay calm. Reid says it’s not about panic—it’s about supply and demand, and the system is still being carefully managed.