Central Bank Pumps US$20m into FX Market

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The Bank of Jamaica, BOJ, has pumped USD$20-million into the foreign exchange market in a flash auction.

The BOJ confirmed that it happened last Thursday. The last time the BOJ held a similar flash auction, was on August 24 last year.

At that time, it pumped USD$40-million into the foreign exchange market, as the Jamaican dollar opened trading at an all-time low against the US.

That flash sale was in addition to USD$60-million the bank sold over a five-week period.

The initiative was aimed at slowing the continued slide of the Jamaican dollar, at the time.

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