BOJ pumps another US$30m into FX market

BOJ pumps another US$30m into FX market

Monday, February 04, 2019

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KINGSTON, Jamaica — Having pumped US$30 million into the foreign exchange market on Friday, the Bank of Jamaica (BOJ) announced that it pumped a further US$30 million into the market this morning in another flash operation, as part of efforts to ensure that disorderly conditions do not exist in the market.

However, BOJ Governor Brian Wynter said the recent fall in the exchange rate of the Jamaican dollar against the US dollar is in fact good news for the economy, as it shows that the economy is improving.

Wynter made the disclosure in a video release this afternoon.

The selling rate for a US dollar was $137.06 cents on Friday, compared to a rate of $131.01 on January 21. On Christmas Eve the rate was $128.44.

More in tomorrow’s Daily Observer

 

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