Big intake of FX to start week

Flows into the Jamaican foreign exchange market started the week on a strong note with dealers buying almost $67 million or $13 million than they sold, bringing the total surplus along with that of the week ending December 18, to US$26 million as the Jamaican dollar made a small recovery against the US dollar.
Dealers actually bought the equivalent of US$66,694,884 and sold US$53,329,088, compared with US$48,985,627 and US$38,223,472 respectively on Friday.
Purchases of US dollars , exceeded the amount sold by dealers by US$11.5 million with dealers buying US$62,348,278 compared to US$45,286,649 on Friday. The buying rate for the US dollar slipped by 16 cents to $119.73. A total of US$50,843,441 was sold versus US$36,755,007 on Friday, the selling rate fell by 3 cents to $120.34. The Canadian dollar buying rate rose 30 cents to end at $83.67 with dealers buying C$2,180,609 and selling C$1,455,256, at an average rate that climbed 25 cents to $85.54. The rate for buying the British Pound declined $2.83 to $175.59 for the purchase of £1,775,301, while £708,226 was sold, with the rate rising 41 cents to $177.54. At the end of trading, it took J$130.53 to purchase the Euro, for a rise of 17 cents from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.89 for a gain of 17 cents from Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$219,141 being bought, while US$406,451 was sold.
Highs & Lows| The highest buying rate for the US dollar, climbed $1.88 to $122, the lowest buying rate rose 29 cents to $98.86, the highest selling rate gained 38 cents to $126.69 and lowest selling rate was up 21 cents to $98.78. The highest buying rate for the Canadian dollar dropped $3.20 to $86.55, the lowest buying rate declined $3.16 to $68.72, the highest selling rate dipped $2.66 to $90 and the lowest selling rate dipped $4 to $82. The highest buying rate for the British Pound, fell $3 to end at $179. The lowest buying rate lost $2.07 to $143.76, while the highest selling rate fell 31 cents to end at $185.32 and the lowest selling rate dipped $4 to $172.