Guyana dollar's slide continues
Stabroek News
November 3, 2001

The Guyana dollar continues to slide reaching a sale value of $195 against the US dollar and President Bharrat Jagdeo said the shift reflected demand and supply in a time variation in the value of the currency.

He indicated that the Balance of Payment position remained good and gross international reserves were above target for the third quarter. Nevertheless, he said that the Bank of Guyana had the capacity to intervene in the cambio market if it saw fit.

Below is a table of the Guyana dollar equivalent being offered for the sale or purchase of one US dollar by the various sources yesterday.

The trend has been that the National Bank for Industry and Commerce Ltd (NBIC) has been the market leader in setting cambio rates, but it has not necessarily been the case that other banks have followed.