Cumax Wealth Management to shake up financial industry jamaicaobserver.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jamaicaobserver.com Daily Mail and Mail on Sunday newspapers.
The Jamaican dollar lost 28 cents on Tuesday but a wide gap remains between the highs and lows for those selling dollars, according to the Bank of Jamaica.
The local currency closed at $147.14 on the day with the Canadian dollar closing at $117.76 and the British Pound closing at $174.83.
Central bank data shows that Wintraders Limited traded the US dollar at the highest price among the 70 listed dealers at $149.58 for US$1. On the other hand, Community and Workers of Jamaica Cooperative Credit Union sold the dollar the cheapest at $136.00.
The dollar traded at its weakest level on February 18 when it closed at $151.79.
In a rush to get older cars off the lots before the year comes to an end, auto dealers have been rolling out payment holiday and discounts, to woo potential buyers.
The month of November usually marks the beginning of a busy Christmas season for car dealers who cut discount deals on older vehicles to get inventory moving. But now,a at the second week in December, car sales are down 70 per cent compared to 2019 levels, largely as a result of the economic fallout from the COVID-19 pandemic.
The changes in the market are forcing car dealers to get more creative in how they attract buyers, and have sparked new partnerships with banks and other lenders.