On a regular business day in early November of 2019, the Jamaican flag is flown high on the New York Stock Exchange (NYSE).1 Why? An honour bestowed to the region’s leading stock exchange as it continues to be named one of the world’s best performing stock exchange.
This week in the forex market the JMD strengthen against the USD, GBP and Euro, but declined against the CAD.This week the JMD saw strong movements against the GBP and Euro as the JMD surged by $7.67 and $6.16, respectively.
This week in the forex market, the JMD continue to regain some ground against the major traded currencies. With the exception of the Euro, the JMD advanced by at much as $1.01.
The JMD continues to show signs of vitality as it advanced against all the major traded currencies for another consecutive week. The JMD advanced by at least $1.61 against the major traded currencies, most noticeable the JMD appreciated by $4.52 against the Euro.
Following several flash sales during the previous week, the Bank of Jamaica (BOJ) injected US$90M into the local Forex Market. Consequently, the JMD regained some ‘footing’ against the major traded currencies. The JMD advanced by at least $1.28 against major traded currencies.
For a third consecutive month, the country saw a general increase in price levels. Following a 1.1% and 0.8% increase in price levels in July and August, them Consumer Price Index (CPI) increased by 0.4% month over month (MoM). Accordingly, the country’s point to point inflation stood at 3.4% as at the end of September … Continued