The Bank of Jamaica intervened in the foreign exchange market for the third time this week with another US$30 million. This brings the total of the week to US$90 million from the Net International Reserves.
Of the latest amount, the largest share of US$6 million was sold to NCB, followed by US$5.25 million to JN Bank and US$3.5 million was sold to VM Group - all at a rate of $158.61 to US$1.
The Jamaican dollar has been under pressure for months due to a significant trade deficit and shrinking remittance inflows.
Trading ended Friday with banks and cambios selling the US dollar for an average $158.93.
The Canadian is going for $114.93.
The average cost of the pound $206.85, while $175.88 is the average value of the euro.
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