No shortage of US dollars in Forex market, says BOJ

No shortage of US dollars in Forex market, says BOJ

Thursday, January 16, 2020

KINGSTON, Jamaica — The Bank of Jamaica (BOJ) is adamant that there is no shortage of US dollars in the foreign exchange market despite the recent slip in the value of the Jamaican dollar.

In a release yesterday, the BOJ said it noted the recent movement in the exchange rate and the renewed expressions of concern by some participants about the pace of movement and the availability of foreign currency supply.

The bank noted that since the start of the year, the exchange rate has depreciated by 3.2 per cent, reversing the appreciation of 2.5 per cent that occurred in December 2019.

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