Big gain for Jamaican$ vs US$ – Friday

The selling rate of US dollar fell against the Jamaican dollar by 45 cents on Friday, with the rate dealers bought the US dollar for, costing 38 cents less than the closing rate on Thursday.
On Friday, Inflows of all currencies, totaled US$49.98 million, versus US$44.08 million on Thursday with the selling of US$46.42 million in contrast to US$34.45 million previously traded. For the week dealers bought US$262.6 million in all currencies including US$20 million sold by the central bank while dealers sold $236.6 million, up on the previous week’s purchase of US$232.95 million including US$20 million auctioned by Bank of Jamaica and the selling of US$219.68 million.
Actual US dollar purchases amounted to US243.8 million down from $219.45 million in the prior week and sold US$214.63 million compared to US$209.47 million.

Jamaica’s Central Bank auctioned US$20M during the week.

In US dollar trading, dealers sold US$40.7 million at a rate of J$127.99 at the close, compared to US$31.55 million at a rate of J$128.44 on Thursday. Purchases of the US currency by dealers, amounted to US$46.22 million at an average of $127.06 at the close, compared US$40.04 million at an average of $127.44.
At mid-day on Friday dealers purchased US$21 million at an average rate of J$127.56 and sold US$16.8 million at an average of J$128.13. At mid-day on Thursday dealers purchased US$18.95 million at an average rate of J$128.15 and sold US$9.6 million at an average of J$128.58.
The selling rate on Friday, for the Canadian dollar rose to J$100.06 from J$98.82 at the close on Thursday, the selling rate for the British Pound dipped to J$178.10 from J$178.69 previously and the euro rose against the Jamaican dollar at J$160.40 to buy the European common currency, versus the prior selling rate of J$157.96.

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