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BOJ intervenes in foreign exchange market with flash sale

The Bank of Jamaica intervened in the foreign exchange market on Monday with a flash sale.
 
The BOJ offered US$20 million to authorised dealers and cambios.
 
The central bank restricted the price at which B-FXITT participants resell the funds to a maximum spread of 20-cents on the buy price. 
 
It also restricted re-sale to end-users.
 
End-users as defined by the central bank are non-financial commercial entities that are funding obligations for essential goods and services.
 


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