Bank of Jamaica Sells US$30 Million to Steady the Jamaican Dollar
A B-FXITT standard sale to dealers signals active currency management as remittance inflows climb.
The Bank of Jamaica intervened in the foreign-exchange market with a US$30 million B-FXITT standard sale to authorised dealers and cambios, part of its routine management of the Jamaican dollar. The move came as remittance inflows rose 4.2% in the first two months of the year, the strongest February since 2022.
For the diaspora, FX intervention is a signal worth tracking: it shapes the exchange rate your transfers convert at. A central bank actively defending the currency generally means more predictable value for money sent home.