JAM | May 16, 2023

Jamaican $ lost value last week

/ Our Today

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The Jamaican dollar depreciated 0.70 per cent last week, as there was no intervention in the foreign exchange market by the Bank of Jamaica (BOJ).

The selling rate moved from J$154.59 closing the trading week on Friday to J$155.69 to US$1. This slight depreciation reflects the lack of trading activity beyond the $156/US$ point by the larger players in the market.

In the US dollar money market, there were minor fluctuations week over week. Liquidity has been moderate with most brokers generally willing to accept long-term money.

Rates often remained within a range of between 4 per and 5 per cent.


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