The Bank of Jamaica intervened in the foreign exchange market with US$40 million on Wednesday after the local currency fell to $159.77 to one US dollar at the end of trading on Tuesday.
Some 42 bids amounting to US$59.15 million were received for the US$40 million made available by the BOJ, but only 24 bids were accepted.
The highest bid price was US$5.5 million at J$159.23 to US$1, while the lowest was for US$2.5 million at J$157.09 to US$1.
Jamaica Money Market Brokers, National Commercial Bank; Bank of Nova Scotia Jamaica and JMMB Securities snapped up US$23.65 million or 65.88% of the BOJ's intervention funds.
All bids were settled at an exchange rate of over J$159 to US$1 despite heavy central bank intervention since the start of this year, particularly since July.
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