Interbank Market News Scan: Bank of Jamaica on eve of independence from the finance ministry …

Currency PairsRates as of 8:33 am EST 26 April 2021Rates as of 4:46 pm EST 26 April 2021Change in pips
EUR/USD1.18951.1890-5
GBP/USD1.37821.3869+87
USD/CAD1.25681.2568No change
AUD/USD0.76250.7602-23 pips
USD/JPY110.6250110.5960-290 pips
USD/NOK8.52458.5245No change
USD/CHF0.94210.9417-4 pips
USD/SEK8.72748.7177-97 pips
USD/MEX20.295320.2844-109 pips
USD/XCD2.70002.7000No change
USD/JMD144.3720144.9940+6,220 pips
USD/DOP56.600056.3164-2,836 pips
USD/HTG79.090379.0859-44 pips
USD/BSD1.00001.0000No change
Source: OANDA

News links to follow today …

Bank of Jamaica, repos. Applications were opened on Monday, 26 April 2021 by Bank of Jamaica, for the provision of Jamaica Dollar liquidity, in the amount of
JMD5 000 000 000.00 through repurchases to deposit-taking financial institutions for settlement on Tuesday, 27 April 2021. These repurchases
will mature on Tuesday, 11 May 2021. bank_of_jamaica_14-day_auction_result_26_april_2021.pdf (boj.org.jm)

Federal Reserve. The Federal Open Market Committee begins its two-day meeting tomorrow Wednesday 27 April 2021. No changes are expected in the federal funds target rate which ranges between 0 and .25%. The Fed – Meeting calendars and information (federalreserve.gov)

Dominican Republic. President Luis Abinader optimistically evaluated the current state of the Dominican economy, ensuring that its takeoff is already a reality despite the difficulties of the pandemic. Abinader assures that the economy, job creation and investments do not stop growing (dominicantoday.com)

Payment systems. In an interview with PYMNTS, Tranglo CEO Jacky Lee explored why the correspondent banking system remains so sticky, and what third-party FinTechs can do to ease businesses’ biggest international money-moving pain points. Tranglo Talks Correspondent Banking Alternative | PYMNTS.com

The US dollar weakens in Jamaica along with the pound and yuan …

According to data from OANDA, a foreign exchange brokerage, the US dollar has showed slight weakness when compared to the Jamaica dollar. During the period 1 December to 5 December 2020, the US dollar priced in Jamaica dollars fell 0.950% from 145.195 JMD to 143.815 JMD. The British pound did not fare much better, falling .5456% from 194.220 JMD to 193.160 JMD.

The Jamaica dollar price for the China yuan fell .292% from 22.1260 JMD to 22.0613 JMD.

The JMD-priced euro saw some gain, climbing in price by .069% from 174.173 JMD to 174.294 JMD.

The inter-bank rate has held at .50% since August 2019 with the Bank of Jamaica targeting an inflation range of four to six percent.