BOJ To Launch New Foreign Exchange Platform in 2020

first_imgKINGSTON, Jamaica – The newly appointed Governor of the Bank of Jamaica (BOJ), Richard Byles, says plans are in place to implement a new foreign exchange trading platform in 2020.Speaking recently at a media briefing, Byles said that the platform will be tested and implemented by February.The platform will be used in trading operations at local commercial banks. It will also enable foreign exchange traders to see all bids on daily offers.Byles said that the new foreign exchange trading platform is designed to create ‘more transparency in the market’.The Central Bank already has an intervention mechanism, the Foreign Exchange Intervention and Trading Tool, B-FXITT, which is tailored to offset market volatility.The announcement comes two weeks after the Jamaican dollar hit its lowest point in history, trading at more than 141- Jamaican dollars to 1 US dollar in mid-November.With a booming stock market and steady inflation rate, Byles reassured the public that the drastic slide in the value of the dollar was not a crisis. The dollar returned to its normal $130-135 to US$1 range at the end of last week.last_img read more

CNW90 May 22, 2020

first_imgIn the meantime, The City of Miami Gardens has lifted its nightly curfew and the shelter-in-place order which have been in place since March. On May 20, the first day of reopening for the city of Miami, city officials announced that the curfew and order were no longer in effect. The city has however advised that residents with preexisting medical conditions should continue to shelter in place if possible. Facial coverings and social distancing are still required in public spaces and in stores, salons, barbershops and parks. Mayor of Miami Gardens Oliver Gilbert spoke to CNW Prime Time about the city’s reopening measures. Coming up in the newscast, Miami lifts COVID-19 nightly curfew, Bahamas government holds funeral service for Hurricane Dorian victims and Haiti now leads CARICOM countries with highest COVID-19 cases. In the meantime, Haiti has surpassed Jamaica, becoming the CARICOM country with the most COVID-19 cases. Since the beginning of this week, Haiti has seen a daily increase of over 50 cases. As of May 21, the country had 663 cases including 22 deaths, while all other countries in the region have began to slow the spread of the virus. For more information on these and other stories, visit CNWNETWORK.com. Remember to pick up this week’s copy of our Caribbean National Weekly at your nearest Caribbean – American outlet. Now for the news in the detail With a look at some of the top stories making the news today, May 22 across your Caribbean-American community in South Florida, I’m…for CNW 90.center_img Today’s newscast is brought to you by the Florida Department of Health; To help stop the spread of COVID-19, The Florida Department of Health in Broward County reminds everyone to practice social distancing, wash your hands often with soap and water and cover your nose and mouth with a tissue or sleeve when coughing or sneezing. The Florida Division of Emergency Management confirmed that almost 2,000 COVID-19 tests that were administered at drive-thru and walk-up test sites so far in May were damaged in transit. Officials said that more than 90,000 tests have been administered throughout the state this month so far, and of that number, 1,702 were damaged. Every patient affected will be contacted and will need to be retested, department officials said yesterday in a statement. Affected patients will also be prioritized for retesting at whichever site they had the first test done. In Caribbean News, Almost one year after Hurricane Dorian ravaged The Bahamas, the government has announced that it will host a non-denominational funeral service and burial for the victims. The service was initially planned for earlier this year but was postponed due to COVID-19. Last September, the category five hurricane had destroyed sections of the territory and claimed the lives of 74 people. In a final report on the Hurricane, released in April, the National Hurricane Center stated that over 200 people were still missing as a result of the hurricane.last_img read more