Foreign Exchange

As an authorized dealer in foreign exchange, the Bank competes with other authorized dealers and cambios for the purchase of hard currency from exporters and other holders of foreign currency in order to sell to clients in satisfaction of their import and remittance requirements. The business also supports a Letter of Credit business which is dependent on our ability to make hard currency available to borrowers so that lines can be rolled over on a timely and profitable basis.

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Placement/Borrowing/CDs

The Money Market activities include managing local currency, funding and investing. The Bank invests in short and medium term Government and Central Bank debt securities. It is also responsible for managing Foreign Currency Funding.

Citibank^® N.A. Jamaica operates 2 separate portfolios, one in local currency and the other in locally generated US dollar deposits. Investments comprise mostly short to medium term loans and letters of credit to our customer base. Both portfolios are subject to similar reserves and withholding tax structures.

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Securities Trading

Securities Trading activity is concentrated primarily in local currency and United States Dollar denominated Government of Jamaica (GOJ) Securities.

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