The rate for buying the US dollar dropped against the Jamaican dollar by 35 cents on Thursday and the rate dealers bought the US dollar for, fell by 58 cents compared to the closing rate on Wednesday.
Buying of foreign exchange in the Jamaican market, pulled back on Thursday from Wednesday’s levels with inflows of all currencies, totaling US$32.49 million, versus US$39.4 million on Wednesday. Selling by dealers was slightly down to US$37.07 million in contrast to US$41.1 million, previously.
In US dollar trading, dealers sold US$29.6 million at a rate of J$127.20 at the close, compared to US$40.08 million at a rate of J$127.55 on Wednesday. Purchases of the US currency by dealers, amounted to US$29.12 million at an average of J$125.93 at the close, compared US$37.20 million at an average of J$126.51.
At mid-day on Thursday dealers purchased US$8.29 million at an average rate of J$126.49 and sold US$7.5 million at an average of J$127.23. At mid-day on Wednesday dealers purchased US$9.16 million at an average rate of J$126.79 and sold US$16.18 million at an average of J$127.37.
The selling rate on Thursday, for the Canadian dollar rose to J$98.51 from J$97.66 at the close on Wednesday, the selling rate for the British Pound climbed to J$178.92 from J$178.42 previously and the euro inched higher against the Jamaican dollar at J$157.55 to buy the European common currency, versus the prior selling rate of J$157.44.
Big gains for Jamaican$ on Thursday
March 22, 2018 by