Stronger Jamaican dollar contributed to BOJ loss

The Bank of Jamaica said it booked a $6.9-billion loss in the eight months to August, driven mainly by writedowns and currency movements. “The losses year to date have arisen primarily from unrealised revaluation losses on the foreign assets in the foreign reserve portfolio,” stated a response from the BOJ. “[Also] unrealised foreign currency losses arising from the strengthening of the Jamaican dollar against the US dollar during the current financial year.”