US$ will not trade at $200 by year end
Stabroek News
December 8, 2001

Finance Minister, Saisnarine Kowlessar says he does not see the Guyana dollar trading at $200 to US$1 by the end of the year, and described the 2.6% depreciation of the dollar for the year as marginal.

At the start of the year, commercial banks' average selling rate for US notes was $184.54 and other instruments $187.39. Last week's average selling rates were $191.23 (notes) and $192.27 (others).

The buying rates for US notes in January were $177.07 and others $182.14. Last week's averages were G$183.09 and G$186.51 respectively.

However, the highest selling rate in January was $190 and it is now $195 with the National Bank for Industry and Commerce Ltd setting the pace for the rate of the dollar.