The Bank of Jamaica has begun releasing information on large US dollar transactions.
The additional information includes the volume and price for each transaction of US$100,000.00 or more. It will be available on the Bank’s website at the end of each day’s trading.
The BOJ says these transactions do not represent all of the trading on that day, but only the individual trades of US$100,000.00 or more. The information will not identify the counterparties to each transaction.
The central bank says they’re taking the move in order to foster greater transparency in the operation of the foreign exchange market and improve access by the public to market information.
Several stakeholders have complained about the wide swings in the Jamaican dollar in recent times.
It’s believed large transactions have been contributing greatly to those swings, so the additional information from the BOJ should help to explain why those spikes are occurring.