Bank of Jamaica (BOJ) offer of US$5 million offer of it foreign exchange auction attracted 33 bids amounting to $15.2 million with rates as high as $129.42. The average of all bids made was $128.94 but the auction cleared at $128.97 with 11 bids accepted, at an average at $129.15.
The out turn in the daily foreign exchange market resulted in the US dollar selling rate ending at J$128.73 from J$128.54 previously. Dealers bought the US currency at an average of J$127.59, versus J$127.12 on Tuesday.
In the previous auction held on August 16, BOJ offer of US$10 million attracted 38 bids amounting to US$28.2 million at an average rate of $128.67. The average rate of 17 accepted bids was $128.74.
At the official start of the auctioning of foreign exchange BOJ announced that it will make US$10 million dollars available to authorized dealers and eligible cambios on Wednesdays up to August 16, totalling US$40 million. It is not clear why BOJ dropped the amount to US$5 million in the latest offer.
BOJ auction rate climbs to $129.15
August 23, 2017 by
