Jamaica’s central bank implements next step in forex overhaul

"The midday rate will immediately impact the way the central bank buys foreign exchange from the market" – Bank of Jamaica

The Bank of Jamaica has taken the next step in ongoing plans to promote stability in the country’s foreign exchange market by launching a midday rate.

Effective September 25, the central bank is now publishing midday rates for the four major currencies (US dollar, Canadian dollar, sterling and the euro) traded in the local market.

“This rate publication will reflect all foreign-currency market transactions reported up to 12:30pm each business day,” the central bank says.

The new rate will be

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