The Bank of Jamaica (BOJ) intervened in the foreign exchange market yesterday, selling US$20 million through a B-FXITT flash auction
The hard currency was sold to authorised dealers and select cambios to augment the FX market. National Commercial Bank, JMMB Bank Jamaica and JMMB Securities each bought US$4 million at a price of J$156.72.
The employee of a currency exchange shop counts U.S. dollar banknotes in Ciudad Juarez, Mexico July 27, 2023. REUTERS/Jose Luis Gonzalez
In fact, all successful bids came through with a selling price of J$156.72. JN Bank received US$3 million and First Global got US$2.7 million.
The list was completed by GraceKennedy Trading Services, which got US$1.3 million; and Victoria Mutual (VM) Building Society with an even US$1 million.
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