Best week for forex inflows in July

Trading in the Jamaican foreign exchange market resulted inflows for week being the highest for any other week in July. Inflows ended at US241 million some $21 million more than for the second week. Outflows of US$183 million were just US$1 million more than for the previous week.
With one day of the month to go the net inflows of all currencies for July is now at $178 million. For the week net US dollar inflows amounted to $56.6 million and $163.4 million for the month.
Inflows into the Jamaican foreign exchange market rose slightly on Friday to US$44.4 million from US$44.2 million on Thursday with outflows of US$30.4 million down from $35 million on Thursday.
In USA dollar trading, inflows into the system ended at US$37.9 million on Friday versus US$35.80 million on Thursday, with outflows of US$25.5 million compared to US$27.1 million.
The value of the Jamaican dollar declined modestly in value against the US dollar on Friday, with the selling rate for the US dollar ending at J$128.39 from J$128.28 previously. Dealers bought the US currency at an average of J$127.26 the same as on Thursday.
The selling rate for the Canadian dollar declined to J$103.34 from J$103.77 at the close on Thursday, while the British Pound was more costly at the close, with J$166.90 buying the British currency versus J$166.22 and the euro, rose in value against the Jamaican dollar, with it taking J$150.66 to buy the European common currency on, versus J$149.30 previously.