JAM | Nov 27, 2023

Greater US$ inflows in past few days

/ Our Today

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A man shows U.S. dollars, in El Alto, Bolivia December 23, 2022. (Photo: REUTERS/Claudia Morales/File)

Jamaica’s foreign exchange market has seen an increase inflows of the American greenback, resulting in the local currency exhibition a slight appreciation in the currency.

The Jamaican dollar appreciated by 0.30 per cent relative to the week over week with the greenback selling rate moving from J$156.90 to J$156.43. This appreciation was owed to greater US$ inflows and end-user demand being satisfied.

Broker demand for Jamaican dollar remained relatively moderate, particularly for short-term funds, while rates in the retail market stayed consistent on JMD placements. 

The US$ money market liquidity continued to fluctuate week over week as broker market demand for ‘greenback’ continues to increase for longer-tenured funds.


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