- The BOJ yesterday conducted a flash sale of an additional US$30Mn through its B-FXITT foreign exchange intervention and trading tool. Total eligible bids were $58.20Mn with an average weighted price of 136.43.
- This follows the sale of an initial US$20 million in January and US$30Mn last Friday, which brings total sales so far this year to US$80Mn. These operations, the Bank says are aimed at “offsetting the effects of excessive daily volatility in the foreign exchange market in recent weeks.”
- In the meantime, the Jamaican dollar continues to lose value against the US Dollar. The currency closed at 137.062 against the US yesterday, representing a loss of 1.06 day-over-day when compared with Friday’s result.
(Source: BOJ, NCBCM Research)