Another large sell off of US$

Dealers sold off a net of US$24 million on Thursday, with purchases of all currencies by dealers amounting to US$28,077,038 equivalent, compared with US$37,292,575, on Wednesday and selling of the equivalent of US$52,045,055 versus US$38,096,238 on the previous trading day.
Thursday’s sale is the second day for the week that dealers offloaded much more than they purchased, with net selling of $28.5 million on Tuesday.
In US dollar trading, dealers bought US$25,814,004 compared to US$35,114,776 on Wednesday. The buying rate for the US dollar slipped 10 cents to $114.51 and US$50,855,849 was sold versus US$36,632,413 on Wednesday, the selling rate edged up 1 cent to end at $115.11. The Canadian dollar buying rate rose 39 cents to $90.17 with dealers buying C$1,066,606 and selling C$586,764, at an average rate that fell 14 cents to $91.93. The rate for buying the British Pound declined 57 cents to $168.74 for the purchase of £878,391, while £380,175 was sold, at an average rate of $171.39, for an 81 cents increase. At the end of trading it took J$126.47 to purchase the Euro, 90 cents more than on Wednesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$124.04 for a rise of 87 cents on Wednesday’s rate. Other currencies bought, amounted to the equivalent of US$128,765 while the equivalent of US$154,544, was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 5 cents to $115.35. The lowest buying and the highest selling rates remained at $93.94 and $120.37 respectively and the lowest selling fell $1.85 to $93.94. The highest buying rate for the Canadian dollar dropped 50 cents to $92.70, the lowest buying rate remained at $72.46, but the highest selling rate rose 28 cents to $94.56 and the lowest selling rate climbed $2.10 to $89.40. The highest buying rate for the British Pound, gained 70 cents to $172, the lowest buying rate remained unchanged at $137.20 but highest selling rate climbed $1.73 to $176.87, while the lowest selling rate gained $1.40 to $166.70.