Another US$10 million more on Monday

Trading in Jamaica’s foreign exchange market saw another day when more purchases of the all foreign exchange currencies exceeded sales, with the net intake on Monday, being US$10 million just above the net in take on Friday of just a tad below US$10 million and with the net US dollar currency intake being US$9 million the same as on Friday.
Net inflows for September to date amounts to US$55.7 million. Unlike Friday when the positive net inflows did not stop the rate for selling the US dollar from rising, in Monday’s trading, the local dollar gained against the US dollar.
At the end of trading, dealers bought US$40,557,663 and sold only US$30,162,776 compared to US$37,477,625 purchased and US$27,548,721 sold on Friday, of all currencies.
In US dollar trading, dealers bought US$36,851,384 compared to US$34,686,488 on Friday. The buying rate for the US dollar declined 22 cents to close at $126.87. A total of US$27,926,335 was sold versus just US$25,787,049 on Friday, with the selling rate fell 7 cents to end at $127.65. The Canadian dollar buying rate declined by 66 cents to $95.29, with dealers buying C$2,122,844 and selling C$1,762,850 at an average rate that rose by 42 cents to $98.27. The average rate for buying the British Pound dropped 18 cents to $165.42 for the purchase of £1,495,683 while only £562,174 was sold with the rate rising 72 cents to end at $169.27.
At the end of trading, the selling rate for the Euro, fell 26 cents to close at J$144.62 from Friday’s rate, according to data from Bank of Jamaica, dealers purchased the European common currency at J$137.67 for a fall of $2.16 from the rate on Friday. The US dollar equivalent of other currencies traded amounts to US$161,845 being bought, while US$133,875, 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 rise of $1.09 in the highest buying rate for the Canadian Dollar to end at $99.50, a fall in the highest selling rate of 92 cents to settle at $102.11, a fall in the lowest selling rate of $1.80 to end at $93. Trading in the British Pound resulted in a fall of 70 cents in the highest buying rate to close at $170.70, a dive of $1.08 in the highest selling rate to $177.12 and a leap of $43.54 in the lowest selling rate to $161.