Almost $120 Jamaican vs US – Thursday

The Jamaican dollar lost value against the US and the Pound on Thursday, with only 1 cents separating the latest selling rate for the US dollar from what would be new landmark of $120. The local currency made modest gains on Canadian dollar. Funds purchased by dealers were closely matched with the amounts sold.
The equivalent of US$29,610,178 was purchased and the equivalent of US$30,889,097 was sold, compared with US$29,557,919 they purchased and US$37,613,356 sold on Wednesday. In US dollar trading , dealers bought US$26,774,865 compared to US$25,882,409 on Wednesday. The buying rate for the US dollar gained 5 cents to $119.32 and US$29,627,807 was sold versus US$35,819,736 on Wednesday, the selling rate rose 3 cents to $119.99. The Canadian dollar buying rate rose 10 cents to end at $87 with dealers buying C$1,227,415 and selling C$630,679, at an average rate that fell 70 cents to $88.89. The rate for buying the British Pound dropped $1.39 to $176.79 for the purchase of £1,076,624, while £508,977 was sold, with the rate rising 62 cents to $179.34. At the end of trading, it took J$126.84 to purchase the Euro, a fall of 36 cents from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$124.22 for a decline of 39 cents from Wednesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$345,225 being bought, while US$33,379 was sold.
Highs & Lows| On Thursday, the highest buying rate for the US dollar fell 10 cents to $120.20 while the lowest buying, the highest and the lowest selling rates were unchanged at $98.66, $126.42 and $117 respectively. The highest buying rate for the Canadian dollar jumped $2.53 to end at $93, the lowest buying rate fell 41 cents to $70.97, the highest selling rate jumped $1.98 to $94 and the lowest selling rate remained at $85. The highest buying rate for the British Pound, climbed $1.38 to end at $181.50. The lowest buying rate fell 58 cents to $144.42, the highest selling rate jumped $1.87 to $186.18 and the lowest selling rate declined by 80 cents to $173.