Thursday 20 September, 2018

Jamaican dollar gains 15 cents against US counterpart

The Jamaican dollar gained 15 cents to re-enter the $136 territory, according to the trading summary of the Bank of Jamaica (BOJ).

The dollar trades today at $136.91 from $137.06. It’s the first time that the dollar has re-entered into $136 territory since August.

What has aided in its appreciation is the BOJ’s announcement on September 4th and again on 11th  that its B-FXITT intervention tool will sell US$41 million in over the next four weeks to eligible authorised dealers and cambios. This was less than the US$65 million announced in August.

Comparatively, the British pound will open trading today at $178.91 from $178.28 yesterday while the Canadian dollar closed at $104.25 from $104.83.

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