Fri | Dec 15, 2017

BOJ offers US$10M for sale in pilot auction

Published:Wednesday | June 28, 2017 | 2:22 PM

The Bank of Jamaica (BOJ) offered for sale US$10 million in its pilot intervention and trading tool (B-FXITT) foreign exchange operation today.

The BOJ received 41 bids valued at US$16.82 million from authorized dealers and cambios.

The weighted average exchange rate was $128.76.

The highest submitted bid price was $129.60 for US$100,000, while the lowest was $127.50 for a similar amount, according to the results of the pilot.

The highest successful bid price was $129.60 for US$100,000. The bid price for partial allocation was $128.55 and the partial allocation percentage was 8.13 per cent.

BOJ said the next intervention sale operation for US dollars is scheduled for Wednesday, July 26, with settlement on Thursday, July 27.

- business@gleanerjm.com