Big jump in FX trades on Thursday

Trading picked up in the Jamaican foreign exchange market on Thursday over the low level on Wednesday but is still below the levels expected for this time of the year with dealers buying the equivalent of US$86,482,978 and selling US$81,286,470, compared with US$30,144,415 purchased and US$32,965,153 sold on Wednesday.
In US dollars trading, dealers bought US$81,408,190 compared to US$25,692,915 on Wednesday with the buying rate for the US dollar rising 65 cents to $120.78. A total of US$76,491,607 was sold versus US$27,660,961 on Wednesday as the selling rate climbed by 3 cents to $121.04. The Canadian dollar buying rate jumped $1.95 to end at $84.15 with dealers buying C$3,747,853 and selling C$5,750,040, at an average rate that rose $1.86 to $85.44. The rate for buying the British Pound climbed $1.14 to $169.71 for the purchase of £1,686,196, while £456,382 was sold, with the rate gaining 3 cents to $169.97. At the end of trading, it took J$131.86 to purchase the Euro, for a rise of 15 cents from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.94 for a climb of 12 cents from Wednesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$94,363 being bought, while US$95,194 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at are, a jump of $18.72 in the lowest selling rate of the US dollar to $117.50. The Canadian dollar highest buying rate rose by $1.60 to $85.25. There was a rise of $3.74 in the highest selling rate of the British Pound, to $179.01 and an increase in the lowest selling rate of $1.20 to $164.50.