Jamaica’s central bank governor, Richard Byles, noted the bank sold around USD 585 mln through its Foreign Exchange Intervention Trading Tool (B-FXITT) in 2023 to stabilize FX market volatility. As of August 16, Jamaica’s gross international reserves stood at approximately USD 4.6 bln, exceeding adequacy standards by about 15%. A recent bank survey revealed that less than 14% of respondents believe strong currency depreciation to be a significant factor for future inflation.