The Bank will be offering USD65 million over the next four weeks in its foreign exchange auction to eligible Authorised Dealers and Cambios.
The amount represents an increase over the quantity offered in August of US$35 million prior to the amount to be auctioned on Wednesday, 30 August.
September is usually a period when inflows tend to dip below normal levels and may be the reason why the amounts to be offered have been increased.
The weekly schedule outlined by the BOJ is: US$5 million on Wednesday, 30 August, the same amount as last week, US$10 million on Wednesday, September 6, US$20 million on September 13 and US$30 million on September 20.
The central bank is only returning to the market amounts it would have taken under the compulsory surrender of 25 percent from Authorised Dealers and Cambios during the month. It is unclear as to the reasons why Bank of Jamaica has not reduced their compulsory take from the market. In 200 the central bank hiked the amount when the price of oil was around US$100 a barrel as the amount to fund Petrojam was being provided by BOJ. Now that the price is around U$50 why is the weekly take not reduced?
In 2009, Bank of Jamaica established the Foreign Exchange Surrender Facility for public sector entities (PSE Facility). 
The aim of the facility is to centralize foreign currency demand of the public sector, especially Port Authority of Jamaica, National Water Commission and Petrojam. Under this facility Commercial Banks agreed to surrender fifteen percent (15%) of foreign currency purchases daily. The pre-existing requirement where Authorized Dealers and Cambios surrender within range of five percent (5%) to ten percent (10%) of their gross foreign currency purchases from commercial clients remains in effect. Therefore commercial banks are to surrender, in total between twenty percent (20%) to twenty-five percent (25%) of foreign currency purchases daily. At the start of 2015, the surrender requirements were increased thirty percent to thirty-five percent for Authorised dealers and twenty-five percent for cambios.
Archives for August 2017
Jamaican$ falls again – Tuesday
Trading in the Jamaican foreign exchange market on Tuesday resulted in the Jamaican dollar declining in value against the US dollar, following Monday’s decline with the selling rate ending at J$128.77 from J$128.68 previously.
Dealers bought the US currency at an average of J$127.36, versus J$127.23 on Monday. Trading ended with inflows of US$38.41 million compared to US$45.59 million on Monday with Bank of Jamaica is entitled to approximately 25 percent of the inflows or around $10 million of Tuesday’s intake. Outflows amounted to only US$35.70 million compared to US$30.40 million of all currencies on the prior trading day.
In USA dollar trading, inflows ended at US$ 31.76 million versus US$41.64 million on Monday with outflows of US$26.33 million compared to US$28.38 million.
The selling rate for the Canadian dollar climbed to J$104.44 from J$103.82 at the close on Monday while the British Pound was more costly, with J$167.23 buying the British currency versus J$166.02 and the euro, rose in value against the Jamaican dollar, with it jumping to J$156.41 to buy the European common currency, versus J$151.81 previously.
Trading activity picks up on JSE
The main market of the Jamaica Stock Exchange saw increased trading on Tuesday over Monday’s activity, with higher values and volumes. The market closed at a new record high with the gains for the year to date being 33 percent based on the All Jamaica Composite Index that advanced 1,183.31 points by the close of trading.
In trading Cable Bahamas Jamaica dollar denominated preference share, traded for the first time with 3 units changing hands at $1,000,000 each.
Elsewhere, at the close of market activity, the securities changing hands, the last price and volume traded for the day are, Barita Investments with a fall of $1.48 to $9.01 with 6,099 shares, after investors seemed to have lost interest in it, following the announcement of a buyout of majority shares. Berger Paints closed at $15.80, losing 20 cents with 60,636 shares, Cable and Wireless lost 5 cents to close at $1.05 with 905,749 shares, Caribbean Cement exchanged 5,388 shares at $30, Carreras held firm at $108 with 730,722 shares, Grace Kennedy ending with a loss of 50 cents, t0 $41 with 5,213 shares. 
Jamaica Broilers rising 45 cents, to $18.20 with 234,394 shares, Jamaica Producers with a loss of 48 cents, closed at $14.50 with 326,105 shares, Jamaica Stock Exchange jumped 79 cents to $6.49, in trading 5,300 shares, JMMB Group lost 15 cents to $20.75 with 284,052 shares. Kingston Properties closed at $7.50, after losing 50 cents with 10,325 shares, Kingston Wharves climbed $1.15, to $32 with 164,207 shares, Mayberry Investments gained 10 cents to finish at $4.60 with 12,020 shares, NCB Financial Group closed at $87.54, losing 45 cents with 110,532 shares, PanJam Investment lost 2 cents to close at $32.98 with 150,000 shares. Pulse Investments closed with a loss of 1 cent, at $1.99 trading 20,701 shares, Radio Jamaica gained 10 cents to $1.30 with 54,276 shares, Sagicor Group closed at $32 with 55,233 units, Sagicor Real Estate Fund ended at $12 trading 8,200 shares, Salada Foods exchnaged 7,705 shares at $10, Scotia Group closed 50 cents higher to $46 with 16,854 stock units, Seprod climbed $3.25 to close at $33 with 9,091 shares, Supreme Ventures closed at record high of $11, gaining $1.49 with 34,580 shares. Proven Investments US ordinary shares closed at 23 US cents with 2,420 units, Jamaica Money Market Brokers 7.5% preference share, closed at $1.85 with 74,950 units, JMMB Group 7.5% preference share closed with 300,000 shares at $1.15 and Proven 8.25% preference share gained 10 cents to close at $5.10 with 279,533 units.
New record close for JSE – Tuesday
Trading levels improved on the main market stocks of the Jamaica Stock Exchange on Tuesday as the market indices hit fresh new highs at the close with gains in excess of 1,000 points. Technical indicators are pointing to continuation of the bullish trend well into the future.
The market has to overcome a big resistance level at 290,000 points on the all Jamaica Composite index before what looks like a huge breakout that will be fuelled by lower interest rates that will drive up market valuations, low supplies of stocks and increased profits to add to the mix.
At the market close, the All Jamaica Composite Index advanced 1,183.31 points to close at record 279,491.06, the JSE Market Index climbed 1,078.13 points to record of 254,648.01 and the JSE US dollar market index closed unchanged at 177.52.
At the close of trading, 27 securities changed hands in the main market with 1 trading in the US dollar market, leading to 7 stocks advancing and 10 declining. The main market ended with 3,871,868 units valued at $124,392,766 changing hands, compared to 3,602,298 units valued at $94,690,959 at the close on Monday. Trading in the US dollar market accounted for 2,420 units valued at US$557 bringing the total of all trades to J$124,464,011.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets,
the Investor’s Choice bid-offer indicator reading shows as mixed picture going forward, with just 1 stock closing with the bid higher than the last traded price and 3 with lower offers.
The main market ended trading with an average of 143,403 units valued at $4,607,139 for each security traded compared to an average of 150,096 units valued at $3,945,457. The average volume and value for the month to date ended at $183,210 units with an average value of $4,017,686 compared with an average of 185,421 units with an average value of $3,984,939 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
Trading jumps from Monday’s levels
Trading on the Junior Market of the Jamaica Stock Exchange ended on Tuesday with 26 securities changing hands with 11 advancing, 9 declining and 6 trading unchanged. The market index inched higher by 3.19 points to 3,093.37.
The volume traded amounted to 2,320,590 units valued at $10,336,084, compared to 1,303,888 units valued at $6,225,235 on Monday.
Trading ended with an average of 89,253 units for an average of $397,542 in contrast to 65,194 units for an average of $311,262 on Monday. The average volume and value for the month to date amounts to 249,420 units valued at $1,528,275, in contrast to 258,319 units at an average of $1,591,093 previously. In contrast, 
July closed with average of 536,395 units at $1,905,441 for each security traded.
Trading ended with the market sentiments looking mixed for Wednesday’s activity as 4 stocks ended with bids higher than their last selling prices and 5 with lower offers.
At the close of the market, the volume of stocks changing hands and their last traded price are: Access Financial settled at $47 with 2,250 shares, Blue Power traded at $40 with 1,300 shares, CAC 2000 finished with a loss of 9 cents, at $7.86 with 4,068 stocks trading, Caribbean Cream traded at $6.50 with 56,600 stocks, Caribbean Producers finished 15 cents higher at $3.80 with 15,000 stock units exchanged. Consolidated Bakeries traded 29 cents higher at $2.30 with 4,500 stocks, Derrimon Trading closed 80 cents higher at $7.90 with 4,000 units, Dolphin Cove concluded trading with a loss of 20 cents, at $17.30 with 2,050 stocks, Express Catering settled 15 cents higher at $4.15 with 436,106 units, General Accident finished 22 cents higher at $2.82 with 67,500 stocks, Honey Bun closed 20 cents higher at $5 with 22,869 shares. 
ISP Finance settled with a loss of $1, at $19 with 400 units, Jamaican Teas concluded with a loss of 10 cents, at $4.90 with 90,678 shares, Jetcon Corporation ended with a loss of 21 cents, at $5 with 69,256 units, KLE Group closed 1 cent higher at $3.01 with 40,899 stocks, Knutsford Express concluded trading 34 cents higher at $14.40 with 6,770 stocks. Lasco Distributors traded at $7 with 186,808 shares, Lasco Financial settled with a loss of 20 cents, at $3.60 with 204,349 stock units, Lasco Manufacturing concluded market activity with a loss of 15 cents, at $4.45 with 45,888 shares, Main Event closed at $4.50 with 343,513 shares, Medical Disposables closed with a loss of $1.25, at $4.25 with 42,000 shares. Paramount Trading ended 10 cents higher at $2.70 with 10,500 stocks, Stationery and Office finished with a loss of 10 cents, at $4 with 655,536 stocks after trading at a low for the day of $3.50, Derrimon Trading preference share concluded trading 3 cents higher at $2.03 with 7,000 stocks, Eppley 9.5% preference share finished 5 cents higher at $7.25 with 500 units and Eppley 10% preference share traded at $6.60 with 250 stock units changing hands.
Trading sinks on TTSE – Tuesday
Trading on the Trinidad & Tobago Stock Exchange on Tuesday ended with 7 securities changing hands compared to 8 on Monday with market volume falling lower than the depressed level on Monday.
At the close, 2 stocks advanced, 3 declined and 2 were unchanged as 58,067 shares traded at a value of $755,391 compared to Monday’s trades of 84,002 valued at $566,877.
The Composite Index declined 0.12 points to 1,241.59, the All T&T Index fell 0.57 points to 1,791.21 but the Cross Listed Index added 0.05 points to 92.93 points.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 4 stocks with bids higher than last selling prices and 8 with lower offers.
Gains| The last traded prices of securities gaining and the volume changing hands are Guardian Holdings inching up 1 cent, to close at $16.51 with 1,410 shares and JMMB Group with a 1 cent gain, to $1.27 with 18,490 shares.
Losses| The last traded prices of securities declining and volume changing hands are First Citizens falling 1 cent to $31.67 with 1,513 shares and Trinidad & Tobago NGL trading 40 cents lower to $22.50 with 1,943 shares.
Firm Trades| The last traded prices of securities closing unchanged and the volume changing hands are, Angostura Holdings closed at $15 with 1,000 shares, Clico Investments closing at $20.75 with 25,875 shares valued at $536,648 and Sagicor Financial that remained at $8.30 with 7,836 shares.
Value slips for Jamaican$ – Monday
Trading in the Jamaican foreign exchange market on Monday resulted in the Jamaican dollar declining in value against the US dollar, with the selling rate ending at J$128.68 from J$128.41 previously. Dealers bought the US currency at an average of J$127.23, versus J$127.17 on Friday.
Trading ended with inflows of US$45.59 million compared to US$32.69 million on Friday with Bank of Jamaica is entitled to approximately 25 percent of the inflows or around $11.4 of Monday’s intake. Outflows amounted to only US$30.40 million compared to US$19.34 million of all currencies on the prior trading day.
In USA dollar trading, inflows ended at US$41.64 million versus US$28.37 million on Friday with outflows of US$28.38 million compared to US$16.32 million.
The selling rate for the Canadian dollar climbed to J$103.82 from J$103.11 at the close on Friday while the British Pound was more costly, with J$166.02 buying the British currency versus J$165.59 and the euro, rose in value against the Jamaican dollar, with it taking J$151.81 to buy the European common currency, versus J$150.79 previously.
Juniors inched higher on Monday
Trading on the Junior Market of the Jamaica Stock Exchange ended on Monday with 20 securities changing hands, 9 advanced, 9 declined and 2 traded firm as 1,303,888 units valued at $6,225,235 changed hands compared to 3,210,758 units valued at $13,020,965 on Friday.
Trading ended with an average of 65,194 units for an average of $311,262 in contrast to 145,944 units for an average of $591,862 on Friday. The average volume and value for the month to date amounts to 258,319 units valued at $1,591,093 compared to 269,679 units valued at $1,666,377 previously. In contrast, July closed with average of “NULL” units at “NULL” for each security traded.
Trading ended with the market sentiments looking mixed for Friday activity as 5 stocks ended with bids higher than their last selling prices and 2 with lower offers.
At the close of the market, stocks trading and their last traded price are:
Access Financial finished trading 75 cents higher at $47 with 25,302 shares, AMG Packaging concluded trading with a loss of 3 cents to $3.45 with 25,441 stock units, Caribbean Cream ended 60 cents higher at $6.50 with 15,100 shares, Caribbean Producers finished trading with a loss of 15 cents, at $3.65 with 35,300 shares, Consolidated Bakeries settled with a loss of 29 cents, at $2.01 with 750 stock units, Dolphin Cove closed 10 cents higher at $17.50 with 1,475 stocks, Express Catering finished trading with a loss of 49 cents, at $4 with 38,177 stock units, Honey Bun settled with a loss of 70 cents, at $4.80 with 2,000 shares, Jamaican Teas settled 10 cents higher at $5 with 20,000 units, Jetcon Corporation closed 21 cents higher at $5.21 with 50,890 shares, KLE Group settled 25 cents higher at $3 with 50,323 units, Knutsford Express finished trading with a loss of 44 cents, at $14.06 with 2,200 units, Lasco Distributors closed at $7 with 40,685 stocks, Lasco Financial completed trading with a loss of 20 cents, at $3.80 with 11,350 shares, Lasco Manufacturing traded 1 cents higher at $4.60 with 25,677 units, Main Event settled at $4.50 with 100,745 units, Medical Disposables settled 50 cents higher at $5.50 with 5,200 stocks, Stationery and Office settled 10 cents higher at $4.10 with 796,273 shares, tTech closed with a loss of 95 cents, at $6.05 with 7,000 stocks and Derrimon Trading closed with a loss of 10 cents, at $2 with 50,000 shares.
JSE main market pulls back from record
The Jamaica Stock Exchange pulled back from the record close on Friday with the market indices declining with the volume and value traded rising above Friday’s levels.
The All Jamaica Composite Index declined 452.43 points to close at 278,307.75, the JSE Market Index declined 412.22 points to 253,569.88 and the JSE US dollar market index fell 6.51 points to 177.52.
At the close of trading, 24 securities changed hands in the main market with 1 trading in the US dollar market, leading to 9 stocks advancing and 10 declining. The main market ended with 3,602,298 units valued at $94,690,959 changing hands compared to 2,197,630 units valued at $56,139,038 at the close on Friday. Trading in the US dollar market accounted for 174,932 units valued at US$40,234 bringing the total of all trades to J$99,840,958.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 4 stocks with bids higher than their last selling prices and 1 with a lower offer.
The main market ended trading with an average of 150,096 units valued at $3,945,457 for each security traded compared to an average of 84,254 units valued at $2,159,194. 
The average volume and value for the month to date ended at $185,421 units with an average value of $3,984,939 compared with an average of 187,499 units with an average value of $3,987,261 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
At the close of the market, the last traded prices of securities and volume changing hands are, Barita Investments with a loss of 51 cents in closing at $10.49 with 2,449 shares, Berger Paints closed at $16, after gaining 25 cents with 500 shares, Cable and Wireless lost 5 cents to close at $1.10 with 299,771 shares, Caribbean Cement climbed $2.50 and ended at $30 with 76,723 shares, Carreras inched 1 cent higher to close at $108 with 473,898 shares, Grace Kennedy traded 206,942 shares at $41.50. Jamaica Broilers with gains of 14 cents, closed at $17.75 with 4,965 shares, Jamaica Producers dropped $1.52 to $14.98 with 1,053,204 shares, Jamaica Stock Exchange closed at $5.70, with a loss of 30 cents trading 1,645 shares, JMMB Group lost 10 cents to close at $20.90 with 301,858 shares. Kingston Properties closed at $8 with 4,184 units, 
Kingston Wharves rose 6 cents and closed at $30.85 with 5,743 shares, NCB Financial Group closed at $87.99, having lost $1 with 5,571 stock units, PanJam Investment gained 5 cents to $33 with 39,433 shares, Portland JSX traded 5 cents lower to $9.25 with 10,000 shares. Pulse Investments ended with a loss of 5 cents at $2 with 16,600 shares, Sagicor Group added 50 cents, closing at $32 with 19,990 shares, Sagicor Real Estate Fund gained 2 cents to close at $12 trading 490,652 shares, Scotia Group closed 40 cents higher at $45.50 with 1,651 shares, Sterling Investments exchanged 2,000 shares at $14, Supreme Ventures closed at $9.51, losing 49 cents with 74,519 shares. Proven Investments US ordinary shares lost 1 cent US and closed at 23 US cents with 174,932 units, 138 Student Living variable rate preference share traded 500 units at $5.68, Jamaica Money market Brokers 7.5% preference share closed at $1.85 with 61,500 units being exchanged and JMMB Group 7.5% preference share closed with 448,000 shares at $1.15.
NCB Financial hits another high
NCBFG closed at a record of $5.05 on the TTSE on Monday.
NCB Financial Group closed at another new high of $5.05 on the Trinidad & Tobago Stock Exchange on Monday as investors continue to respond positively to the strong nine months results of the group.
At the close of trading only 8 securities changed hands compared to 14 on Friday and all three indices advanced on a day when the volume and value of trades were lower than Friday. The market closed with 3 stocks advancing, 2 declining and 3 holding firm as 84,002 shares traded valued $566,877 compared to Friday’s trades of 161,029 valued at $1,432,085.
The Composite Index advanced 3.82 points to 1,241.71, the All T&T Index gained 0.08 points to 1,791.78 and the Cross Listed Index added 1.13 points to 92.88 points.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 3 stocks with bids higher than last selling prices and 8 with lower offers.
Gains| The last traded prices of securities that rose and the volume changing hands are, JMMB Group with gains of 3 cents closing at $1.26 with 1,000 shares, NCB Financial Group advancing to a 52 weeks’ high of $5.05, after gaining 5 cents with 1,000 shares changing hands and 
Republic Financial Holdings that closed 10 cents higher to $102 with 100 shares.
Losses| The last traded prices of securities declining and the volume changing hands are Trinidad & Tobago NGL with a loss of 10 cents, closed at $22.90 with 13,014 shares and Unilever Caribbean traded 2 cents lower to a 52 weeks’ low of $50.98 with just 45 units changing hands.
Firm Trades| The last traded prices of securities and the volume traded unchanged at the close of trading are, Grace Kennedy remaining at $2.85 with 39,200 shares, Sagicor Financial ending at $8.30 with 3,358 shares and Trinidad Cement having exchanged 26,285 shares closed at $4.20.
