Daily US dollar purchases by dealers and cambios rising

For the calendar year to date, daily purchases of US dollars by authorized dealers and cambios in Jamaica, averaged US$36.2 million, higher than the average of US$29.9 million recorded over the same period last year.

At the same time, daily sales to end users excluding sales to Bank of Jamaica (BOJ) averaged US$33.2 million since the start of 2021.

This is well above the average of US$26.6 million bought a year earlier.

For the calendar year to August 16, the BOJ purchased US$1.1 million from the market via market surrenders, which pays Government of Jamaica debt servicing and facilitates some energy imports.

As at August 16, 2021, Jamaica’s gross international reserves stood US$4.2 billion.