BOJ intervenes in FX market


BOJ intervenes in FX market

Friday, July 12, 2019

Print this page Email A Friend!

The Bank of Jamaica (BOJ) intervened in the foreign exchange market yesterday morning, with an offer of US$30 million sold to authorised dealers and large cambios by means of Bank of Jamaica's Foreign Exchange Intervention and Trading Tool (B-FXITT).

“This intervention is intended to address temporary demand and supply imbalances in the market,” the BOJ stated via release.

The Bank stated that the total number of bids received was 37, with a total value of US$56,150,000.

Twenty of those bids were accepted for US$30 million. The total weighted average price from the eligible bids was $135.73, while the weighted average price from the accepted bids was slightly higher at $136.30.

The highest bid price was $136.90, while the lowest was $130.

On Wednesday, the weighted average rate for buying US dollars was $133.60 to US$1, while the weighted average rate for selling US dollars was $135.48.

After the BOJ intervention on Thursday the value of the Jamaican dollar slipped further to $135.12 to US$1 buying, and to $136.33 to US$1 selling.

Financial experts suggest that there is an exceptional amount of Jamaican liquidity on the market, which could be pressuring the exchange rate.

Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at




1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed:

6. If readers wish to report offensive comments, suggest a correction or share a story then please email:

7. Lastly, read our Terms and Conditions and Privacy Policy

comments powered by Disqus



Today's Cartoon

Click image to view full size editorial cartoon