US dollar trading in Jamaica’s foreign currency market declined on Wednesday with inflows falling below outflows with the rate to buy the US dollar by the public, slipping modestly the local dollar also gained against the other three major currencies.
On Wednesday, the Jamaican dollar rate the public bought the US dollar at, slipped to $125.91 as dealers sold US$43.18 million in US currency, down from US$61.50 million at an average rate of $125.94 on Tuesday. US currency purchases by dealers amounted to US$38.53 million on Wednesday, at an average rate of $124.73, compared to Tuesday, with US$66.68 million at $125.09.
On Wednesday at midday dealers purchased US$15.85 million at an average rate of J$125.30 while they sold US$11.25 million at an average of J$125.91.
At mid-day on Tuesday dealers purchased US$28.15 million at an average rate of J$125.39 while they sold US$13.70 million at an average of J$125.76.
Dealers’ purchased US$44.15 million, versus US$70.48 million on Tuesday in all currencies in Jamaica’s Forex market and sold just US$47.42 million compared with US$63.75 million sold, previously.
The selling rate for the Canadian dollar fell to J$98.72 from J$99.02 at the close on Tuesday. The selling rate for the British Pound slipped to J$168.42 versus J$168.81 previously and the euro fell in value against the Jamaican dollar at J$149.65 to buy the European common currency, versus prior selling rate of J$149.90.
Jamaican$ gains against all 4 currencies
US dollar trading jumps
US dollar trading in Jamaica’s foreign currency market climbed on Tuesday with inflows exceeding outflows with the rate to buy the US dollar by the public, rising by 18 Jamaican cents, the first time in a week.
On Tuesday, the rate of exchange to buy the US dollar by the public, rose to $125.94 as dealers sold US$61.50 million in US currency, up strongly from US$48.69 million at an average rate of $125.76 on Monday. US currency purchases amounted to US$66.68 million on Monday, at an average rate of $125.09, compared to Monday, with US$56.75 million at $124.94.
On Tuesday at midday dealers purchased US$28.15 million at an average rate of J$125.39 while they sold US$13.70 million at an average of J$125.76.
At mid-day on Monday dealers purchased US$19.60 million at an average rate of J$125.20 while they sold US$15.74 million at an average of J$125.73.
Dealers’ purchased US$70.48 million, versus US$61.32 million on Monday in all currencies in Jamaica’s Forex market and sold just US$63.75 million compared with US$50.73 million sold, previously.
The selling rate for the Canadian dollar jumped to J$99.02 from J$96.77 at the close on Monday. The selling rate for the British Pound climbed to J$168.81 versus J$168.62 previously and the euro held value against the Jamaican dollar at J$149.90.
NCB Financial dominates TTSE – Tuesday
Market activity on the Trinidad & Tobago Stock Exchange resulted in 13 securities changing hands compared to 12 on Monday with NCB Financial Group leading with the highest volume just under 1 million units with a value $5.9 million.
At the close, 4 stocks advanced, 3 declined and 6 remained unchanged as 1,117,124 shares traded at a value of $6,876,070 compared to Monday’s trades of 168,640 valued at $1,925,602.
The Composite Index declined by 2.25 points to 1,280.47, the All T&T Index dropped 1.19 points to 1,751.92 and the Cross Listed Index lost 0.45 points to close at 109.05.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 7 stocks with bids higher than last selling prices and 5 with lower offers.
Gains| The securities that rose in trading are, First Citizens with a 1 cent gain and closed at $32.01 with 3,428 shares, NCB Financial Group ending at $6.03, gaining 3 cents in exchanging 978,658 shares valued at $5,901,308. Scotiabank closed at $60.01, after trading at $58 to close with a gain of 1 cent with just 98 units and Trinidad & Tobago NGL advancing to a new 52 weeks’ high of $25.05, after rising 4 cents with 600 units changing hands.
Losses| Securities declining at the close are, Grace Kennedy that slipped 10 cents, ending at $3 with trades of 27,036 shares, JMMB Group with a loss of 2 cents, closing at $1.98 with 2,429 shares and Massy Holdings losing 2 cents to close at $48.95 with 2,100 shares changing hands.
Firm Trades| The securities trading unchanged are, Angostura Holdings with 731 units closing at $15.05, Clico Investment holding at $20.80 with 14,369 shares valued at $301,675, after it traded as high as $21. First Caribbean International Bank traded 50 units at $9.30, National Enterprises closed at $9.75 with 2,206 shares trading, National Flour Mills exchanged 59,269 shares at $1.90 and Sagicor Financial closed at $7.95 with 26,150 shares changing hands.
Unilever hits new yearly low
Unilever Caribbean hit a new low of $34 in trading on the Trinidad & Tobago Stock Exchange on Monday as the market closed with 12 securities changing hands compared to 14 on Friday with advancing stocks edging out decliners.
At the close, 4 stocks advanced, 3 declined and 5 held firm as 168,640 shares traded at a value of $1,925,602 compared to Friday’s trades of 189,047 valued at $3,309,055.
The Composite Index gained 0.46 points to 1,282.72, the All T&T Index advanced 2.17 points to 1,753.11 and the Cross Listed Index was down 0.17 points to close at 109.50.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 5 stocks with bids higher than last selling prices and 7 with lower offers.
Gains| At the close of trading the prices National Flour Mills gained 5 cents to close at $1.90, with an exchange of 25,875 shares, Republic Financial Holdings advanced by 50 cents, ending at $102 after trading 48 units, but the stock was offered at just $100.99 at the close, Sagicor Financial closed at $7.95, gaining 8 cents with 21,183 shares trading and Trinidad & Tobago NGL added 1 cent to settle at a 52 weeks’ high of $25.01 with 4,423 shares.
Losses| Securities with prices falling are Clico Investment that dropped 20 cents, closing at $20.80 with trades of 3,010 shares, JMMB Group closed with a loss of 6 cents, at $2 in exchanging 68,255 shares and Unilever Caribbean dropped 95 cents to a 52 weeks’ low of $34 trading just 90 units.
Firm Trades| At the close of trading Angostura Holdings ended with 700 units, closed at $15.05, Guardian Holdings held firm at $16.55 trading 12,800 shares, Massy Holdings remained at $49 with 20,000 shares valued at $980,000 changing hands, National Enterprises closed at $9.75 exchanging 10,937 shares and Scotiabank swapping 1,319 shares at $60.