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Demand for US dollar outstrips BOJ supply

 
The Bank of Jamaica says demand for US dollars significantly exceeded the amount supplied to banks and cambios participating in the foreign exchange market on Thursday morning. 
 
The BOJ supplied US$40 million while banks and cambios sought US$109 million to meet the needs of their clients, resulting in a $69 million shortfall. 
 
Analysts say the gap could prompt another intervention by the central bank on Friday as it seeks to reduce the backlog. 
 
The BOJ says the strongest demand came from National Commercial Bank Jamaica, which purchased the US$6.69 million. 
 
The interventions are aimed at easing pressure on the Jamaican dollar and helping to contain inflation.
 


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