Foreign Exchange Market Has Normalized – BOJ Official

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Bank of Jamaica Deputy Governor John Robinson says the foreign exchange situation appears to have normalized.

About two weeks ago, President of the Jamaica Manufacturers and Exporters Association, Richard Pandohie, complained that many members were unable to access US dollars.

But Mr. Robinson says the BOJ has now noticed a high volume of sales flowing through to final customers.

Last week, the BOJ introduced a new FX Swap Arrangement, intended to help ease the US dollar shortages that arise from time to time.

The Deputy Governor explains how it works.

However, Mr. Robinson says takeup of the arrangement has been limited so far.

But he says it’s still early, since it was only introduced late last week.

John Robinson, Deputy Governor of the Bank of Jamaica.

He was speaking on Nationwide This Morning with Kalilah Reynolds and Abka Fitz-Henley.




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