BOJ sells US$30m to Authorised Dealers, cambios

Bank of Jamaica sold US$30 million to Authorised Dealers and cambios via Bank of Jamaica's Foreign Exchange Intervention and Trading Tool (B-FXITT) on Friday.
This "flash sale" auction, a feature of B-FXITT, follows a similar operation of US$20 million conducted on 17 January 2019, both of which have been aimed at offsetting the effects of excessive daily volatility in the foreign exchange market in recent weeks.
Gross foreign exchange earnings flowing into the economy have remained buoyant and as such, on the macro level, there is no shortage of foreign exchange.
Friday's move comes as the Parliamentary Opposition called for the Finance Minister and the BOJ Governor to immediately address what it said is a severe shortage of US dollars.

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