GraceKennedy FX Trader waives wire fees as Jamaica exports fall 28.8%

GraceKennedy Currency Trading Services Limited, operating as FX Trader Cambio, is removing wire-transfer fees in June for small and medium-sized enterprises and commercial clients as Jamaican firms face tighter global business conditions.

The promotion runs from June 1 to June 30, 2026, and is open to both new and existing customers making wire transfers of at least US$10,000. Transactions may be sent in major currencies including United States dollars, Canadian dollars, pounds sterling and euros. The company says customers could save up to US$60 on each transfer.

The offer is being positioned as support for businesses managing higher operating expenses, changing trade conditions, supply-chain pressure and stronger competition. Cross-border payments remain important for firms that pay overseas suppliers or maintain commercial relationships abroad. Margaret Campbell, chief executive officer of GraceKennedy Money Services, said the move forms part of the group’s wider effort to assist customers and support economic activity.

The Statistical Institute of Jamaica reported that export earnings fell 28.8 per cent to US$217.7 million in January and February compared with the same period last year. The fall was linked mainly to a 59.1 per cent decline in earnings from crude materials, excluding fuels.

Imports also weakened over the two-month period, declining 8.1 per cent to US$1.21 billion. STATIN said reduced spending on raw materials and intermediate goods, consumer goods, fuels and lubricants contributed to the contraction, with fuel imports showing the steepest fall at 20 per cent.

On the stock market for June 5, 2026, Kent Tire Holdings Jamaica Limited led trading with 13,616,466 units, or 39.61 per cent of market activity. TransJamaican Highway Limited followed with 5,644,913 units, or 16.42 per cent, while Wigton Energy Limited recorded 5,226,72 units, representing 15.21 per cent. Activity remained centred on transportation, distribution and solar energy counters.

Bank of Jamaica data for June 5 showed active foreign-exchange trading. The US dollar was listed as selling at J$156.98 and buying at J$158.10. The Canadian dollar sold at J$113.80 and was bought at J$113.61, while the British pound sold at J$215.04 and was bought at J$207.05. The report also advised consumers and entrepreneurs to improve credit records, manage card use responsibly and prepare stronger financial records before seeking funding.