Wednesday 16 October, 2019

Jamaican dollar gains four cents against US greenback

The Jamaica dollar appreciated on Monday to gain four cents against the US dollar, according to the Bank of Jamaica (BOJ).

The dollar closed at $136.50 from $136.54 on the prior day. It was the third consecutive day of strengthening for the month.

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.

Meanwhile, the pound closed at $178.06 from $177.56 and the Canadian dollar closed at $101.72 from $100.40.



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