Trading in the foreign exchange market on Monday was the biggest for March for regular trades, with inflows of all currencies, totaling US$59.92 million, versus US$49.98 million on Friday.
Selling of foreign currency amounted to US$52.98 million in contrast to US$46.42 million previously.
At the close of the market, the selling rate of US dollar fell against the Jamaican dollar by 13 cents on Monday, with the rate dealers bought the US dollar for, costing 21 cents less than the closing rate on Friday.
In US dollar trading, dealers sold US$51 million at a rate of J$127.86 at the close, compared to US$40.7 million at a rate of J$127.99 on Friday. Purchases of the US currency by dealers, amounted to US$57.38 million at an average of $126.85 at the close, compared US$46.22 million at an average of $127.06.
At mid-day on Monday dealers purchased US$21.68 million at an average rate of J$127.10 and sold US$19.48 million at an average of J$127.75. 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.
The selling rate on Monday, for the Canadian dollar dropped to J$96.50 from J$100.06 at the close on Friday, the selling rate for the British Pound dipped to J$177.09 from J$178.10 previously and the euro slipped against the Jamaican dollar at J$159.72 to buy the European common currency, versus the prior selling rate of J$160.40.
Big haul of FX on Monday
March 19, 2018 by
