BOJ Exits FX Market For Remainder Of 2018

The Bank of Jamaica (BOJ) has issued its standard four‐week B‐ FXITT schedule, advising that following the US$10 million purchase operation on Wednesday, December 5, there are no further operations planned for the remainder of 2018.

In a release, the BOJ said the decision to remain out of the foreign exchange market for the remainder of the year was informed by the Bank’s weekly estimate of foreign exchange market flows, guided by Market Intelligence data and daily chats with market participants.

It said indications are that the market is in balance, with adequate supply to meet demand.

By: Franklin McKnight

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