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 further declined against the major currencies with the exception of the Euro. Year to date, the JMD has lost as much as 9.35% of its value. With the dollar once again depreciating rapidly against the USD, the Central Bank has intervened with a flash sale, pumping US$40M … Continued
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.