The Jamaica dollar appreciated on Wednesday to gain three cents against the US dollar, according to the Bank of Jamaica (BOJ).
The dollar closed at $136.35 from $136.38 on the prior day. The dollar continues to swing its way back to April levels. The dollar depreciated in April and appreciated in March.
Last week, the central bank sold US$30 million at a weighted average rate of $137.48 to authorized dealers and large cambios by means of its Foreign Exchange Intervention and Trading Tool (B-FXITT). The BOJ last intervened in the market in April.
The dollar was at its weakest position at $137.96 on August 23, 2018. In March, the dollar hit its strongest position in over 12 months when it entered the $124 territory. Since that time, the local currency has depreciated.
The pound closed at $175.75 from $174.15 and the Canadian dollar closed at $101.48 from $101.29.
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