2025 remittances US$12 million shy of record

March 5, 2026 by
Remittance inflows to Jamaica surged 12.1 percent to US$334.9 million in December 2025, over the corresponding period in 2024 and pushed the total inflows for the year by 3.8 percent to US$3.4857 billion, just $12 million short of the record haul in 2021 of US$3.497 billion.

Last year’s intake is the second highest on record and bettered the 2022 intake of US$3.44 billion. 

Remittance inflows for December 2025 increased by US$36.2 million or 12.1 percent to US$334.9 million, a record collection for any previous December.

The near-record 2025 haul was fueled by 10 months of increase, with only August and October recording declines.

Total remittance inflows into Jamaica between 2021 and 2025.

Filed Under: Economy, Feature Stories, FX Market Tagged With: , ,

BOJ sold US$30m to FX market on Friday

October 20, 2019 by

BOJ interest cuts overnight rate.

Bank of Jamaica (BOJ) intervened in the foreign exchange market on Friday, October 18, the first time since July by selling US$30 million at a weighted average rate of $138.87 by means of a flash intervention.
Bank of Jamaica introduced a bidding system when they intervene in the foreign exchange market officially called “Foreign Exchange Intervention and Trading Tool (BFXITT).” The system was introduced in 2017 with the central bank buying and selling funds in the market whereby authorized dealers and Cambios had bid for the amounts on offer.
Friday’s intervention was to address temporary demand and supply imbalances in the market Jamaica’s central bank stated. Friday’s intervention is the first being made since the central bank intervened with two flash sales on July 18 and 19th this year with a total sale of US$35 million and prior to, US$30 million on July 11. In 2017 and 2018 the central bank had regular weekly scheduled interventions in the market from August to October and November, but there has been none in 2019 after BOJ lowered the amount dealers had to surrender to the central bank from amounts they bought weekly.
The amount offered for sale on Friday attracted 42 bids amounting to US$72.6 million but just 17 were accepted with the highest bid at $139.15 and the lowest at $137. Bids at $138.65 got 33.33 percent of the amount applied for.
The intervention comes against the background of the country’s Net International Reserves climbing US$162 million, from US$2.936 billion at the end of August to US$ 3.098 billion at the end of September.

Filed Under: FX Market, General News Tagged With: , , , , ,

US$20m pumped into Jamaica’s forex market

April 8, 2019 by

Jamaica’s Central Bank is offered US$20M for sale in FX market on monday.

Jamaica’s central bank, Bank of Jamaica pumped US$20 million into the country’s foreign exchange market today, in what they call a flash intervention.
The intervention, not previously announced, comes against the background of the exchange rate for the US dollar closing on Friday at $129.41, up from $128.19 on Thursday, with selling by dealers, amounting to US$25.3 million on Friday. It also takes place with a US$77 million build up in Net International Reserves at the end of March, to US$3.085 billion from US$3,007 at the end of February.
The flash offer resulted in 39 bids amounting to $45.65 billion that came in for the amount auctioned. Just 15 bids were accepted, with rates ranging from $130.25 to $131.80. The average clearing rate was $130.85.

Filed Under: FX Market Tagged With: , , ,

J$ gains on Pound down on Can $ stable US

August 13, 2014 by

In Wednesday’s forex trading, the selling rate for the Jamaican dollar was up versus the Canadian dollar but it was fairly stable against the US dollar and fell against the Pound Sterling.
FX sum 13-8-14Authorized dealers bought the equivalent of US$34,069,194 versus US$31,547,793 on Tuesday, and sold the equivalent of US$36,968,896 compared to US$43,845,589 on Tuesday. In US dollar trading, dealers bought US$29,576,893 compared to US$26,975,990 on Tuesday. The buying rate for the US dollar rose 9 cents to $112.33 and US$33,827,227 was sold versus US$39,677,380 on Tuesday, the selling rate was up a cent to $112.83.
The Canadian dollar buying rate declined 70 cents to $101.11 with dealers buying C$933,419 and selling C$689,558, with the selling rate rising by 62 cents to $103.61.The Pound closed at $186.93, for the purchase of £1,690,394 as the rate rose 33 cents while £1,185,147 was sold, as the rate declined by 33 cents to $188.64. Other currencies bought, amounted to the equivalent of US$839,191 while selling was the equivalent of US$527,123.
FX HL 13-8-14Highs & Lows| The highest rate for buying the US dollar, rose 10 cents to $113.20, the lowest buying, the highest and the lowest selling rates remained unchanged, at $91.85, $117.70 and $91.85, respectively. The highest buying rate for the Canadian dollar, climbed by 35 cents to $103.65 and the lowest buying rate remained at $81.34. The highest selling rate rose 82 cents to $106.50 and the lowest selling rate was up $1.10 to $99.10. The highest buying rate for the British Pound declined 10 cents to $189.40, the lowest buying rate fell 13 cents to $151.35. The highest selling rate fell $3.58, to $191.70 and lowest selling rate eased back by 15 cents to $182.35.

Filed Under: FX Market, Stock Market Tagged With: , , , , ,

US$3.5M more bought than sold but J$ falls

July 25, 2014 by

In Friday’s forex trading, funds bought by dealers, were US$3.5 million more than the amount they sold as dealers bought the equivalent of US$41,124,424 versus US$29,237,131 on Thursday, and sold the equivalent of US$37,641,679 compared to US$34,773,160 on Thursday.
FX sum 25-7-14In US dollar trading, dealers bought US$37,161,136 compared to US$24,787,518 on Thursday as the buying rate for the US dollar, rose 13 cents to $112.45 and sold US$34,873,810 versus US$29,503,394 on Thursday, as the rate gained 4 cents to $112.87.
The Canadian dollar buying rate fell 85 cents, to $102.62 with dealers buying C$1,128,685 and selling C$673,047, as the rate dipped $1.27 to $106.16.
The Pound closed at $189.64, for the purchase of £1,613,433, as the rate dropped 27 cents while £1,132,114 was sold, as the rate climbed 59 cents, to $192.08. Other currencies bought, amounted to the equivalent of US$212,185 while selling was the equivalent of US$215,776.
FX hl 25-7-14Highs & Lows| The highest rate for buying the US dollar, closed with a rise of 20 cents at $113.30, the lowest buying, the highest selling and the lowest selling rates remained unchanged at $91.85, $117.70 and $91.85 respectively. The highest buying rate for the Canadian dollar fell 20 cents to $105 and the lowest buying rate gained 4 cents to $83.25. The highest selling rate inched up by 5 cents to $107.32 and the lowest selling rate was up 5 cents to $100.30. The highest buying rate for the British Pound was unchanged at $192, the lowest buying rate dropped 75 cents to $153.22, the highest selling rate fell $3.75 to $194.73 and lowest selling rate recovered $28.01 to $184.50.

Filed Under: FX Market, Stock Market Tagged With: , , , ,

More inflows than outflows but J$ still slips vs US

July 7, 2014 by

In Forex trading on Monday, the total inflows of funds was more than outflows, with the equivalent of US$42,845,590 being purchased to US$36,734,655 sold compared to the equivalent of US$24,376,857 bought and US$22,464,188 sold on the previous trading day.
In US dollar trading, dealers bought US$36,457,358 compared to US$20,362,496 on Friday as the buying rate for the US dollar fell 1 cent to $111.89 and sold US$32,914,257 versus US$18,760,043 on Friday, with the rate rising 3 cents to $112.52.
FX sum 7-7-14The Canadian dollar buying rate fell $1.97 to $103 with dealers buying C$1,284,007 and selling only C$770,986, the rate eased by 51 cents to $105.60.
The Pound closed at $190.71 for the purchase of £2,508,638, the rate rose 91 cents, while £1,297,137 was sold, with the rate inching up by 29 cents to $192.88. Other currencies bought, amounted to the equivalent of US$930,317 while selling was the equivalent of just US$873,204.
Highs & Lows| The highest rate for buying the US dollar gained 40 cents to $113.30, the lowest buying and the highest selling rates were unchanged at $91.85 FX hl 7-7-14and $117.70 respectively, but the lowest selling rate declined by 83 cents to $91.02.
The highest buying rate for the Canadian dollar fell 35 cents to $105.95 and the lowest buying rate was up 25 cents to $84.08. The highest selling rate was up 32 cents, to $108.39 and lowest selling rate, dropped by $18.16 to $82.84.
The highest buying rate for the British Pound, increased by $1.20 to $194.50, while the lowest buying rate increased 8 cents to $154.71. The highest selling rate climbed $3.34 to $199.45 and the lowest selling rate was up by $3.44 to $186.40.

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