BOJ to continue taking proactive steps to maintain orderly conditions in foreign exchange market

The Bank of Jamaica says it will continue to take proactive steps to maintain orderly conditions in the foreign exchange market, as instability in this market can fuel higher prices throughout the economy.

Governor of the Bank of Jamaica Richard Byles says the Central Bank indicated last month that special pre-emptive measures would be taken to preserve relative stability in the foreign exchange market.

He says these measures took into consideration the need for additional foreign exchange to finance increased imports, made necessary by the rehabilitation and reconstruction efforts since Hurricane Melissa.

He says cumulatively, the BOJ sold US$1.1 billion via its B-FXITT facility over the 12 months to end-November 2025, largely in line with the amount sold over the 12 months to end-November 2024.

Net foreign exchange purchases have amounted to approximately US$1 billion over the 12 months to end-November 2025.