The British pound lost more than 7% vs the Jamaican dollar since Friday last.
The foreign exchange market closed with dealers buying the equivalent of US$10.4 million more than the amount sold in all currencies, with the total bought by dealers amounting to US$53,067,021 while they sold US$42,684,340, in contrast to US$33,009,765 purchased and US$37,738,632 sold on Friday.
In US dollar trading, dealers bought US$49,249,650 compared to US$29,701,874 on Friday as the
buying rate for the US dollar rose 18 cents to $125.76. A total of US$40,553,474 was sold versus US$36,125,031 on Friday with the selling rate rising 2 cents to $126.37. The Canadian dollar buying rate dropped $1.46 to end at $92.78 with dealers buying C$1,050,754 and selling C$756,067, at an average rate that fell $2.41 to $96.78. The average rate for buying the British Pound dived $5.95 to $168.87 for the purchase of £1,951,573, while £724,364 was sold, with the rate dropping $5.48 to $171.29.At the end of trading, the selling rate for Euro, dropped $2.84 cents to close at J$140.45 from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$137.50, for a decline by $2.80 from Friday’s rate. The US dollar equivalent of other currencies traded amounts to US$421,722 being bought, while US$569,954 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates for the Jamaican dollar in the foreign exchange market on Monday, include, a sharp drop of $18.26 in the lowest selling rate of the US dollar to close at $102.74, a decline of $1.70 in the highest buying rate of the Canadian Dollar to $97.70, a fall of $1.42 in the lowest buying rate to end at $77.02 and a surge of $3.80 in the lowest selling rate to $91. The lowest buying rate for the British Pound dived $11.67 to $136.95, the highest selling rate dropped $3.65 to $189.71 and the lowest selling rate dropped by $6.80 to end at $158.
