The main purpose of Sagicor Select Funds is to trade in securities listed on recognized exchanges. The company is a wholly owned subsidiary of Sagicor Investment Jamaica. As at the end of February 2019, the company consists of one (1) fund – The Financial Select Fund – a close ended non-diversified investment fund.
This week in the Forex market, the JMD slumped to an all-time low of JA$141.89: US$1. Similarly, the JMD fell against the GBP and CAD, with the JMD declining by $1.56 to the latter, to close at JA$108.34: CAD$1.
In the forex market, the JMD straighten for a second consecutive week. The JMD strengthen by as much $3.14 this week. In comparison to the benchmark USD, the JMD appreciated by $0.76 to close at $135.44.
Despite intervention in the forex market by the Bank of Jamaica (BOJ), the USD continues to slide, worrying stakeholders island wide. The USD now trades at US$1:J$135.86, a $1.28 decline over the previous week. This week the JMD has declined against all the major traded currencies.
This week in the Forex market, the JMD continues to weaken against the major traded currencies. The benchmark USD strengthen by $2.80 this week against the JMD. Year to date, the JMD has lost as much as 8.30% of its value to the major currencies.
In the forex market this week, the JMD continues to strengthen against the USD. The JMD also performed favourably this week against the British Pound (GBP), however, weakened against the Canadian Dollar (CAD) and the Euro, depreciating by $1.06 and $0.12, respectively.