Authorized Dealers sold much more foreign currency that they bought on Friday. Bank of Nova Scotia (BNS) and National Commercial Bank (NCB) were big net sellers of the US dollar, the second consecutive day of a big net sell off by dealers. BNS was the largest net seller, with US$4.58 million bought to US$15.26 million sold, followed by NCB buying US$4.13 million and selling US$12.6 million. On Thursday BNS bought US$7.33 million and sold US$14.23 million while National Commercial Bank, was buying US$2.67 million and selling US$5.54 million.
The Jamaican dollar slipped slightly against the US dollar, but appreciated against the Pound and the Canadian dollar, in Friday’s forex trading. Authorized dealers purchased the equivalent of US$49,065,272 versus US$27,673,332 on Thursday. The equivalent of US$60,366,852 was sold, compared with US$42,183,198 on Thursday.
In US dollar trading, dealers bought US$43,058,325 compared to US$25,657,012 on Thursday. The buying rate for the US dollar was up 6 cents to $112.29 and US$56,237,305 was sold versus US$40,190,794 on Thursday, the selling rate rose 3 cents to $112.65. The Canadian dollar buying rate, climbed 53 cents to $99.51 with dealers buying C$2,347,380 and selling C$2,099,384 at an average selling rate that declined 63 cents, to $100.49. The rate for buying the British Pound is up by 82 cents to $179.22, for the purchase of £1,814,232, while £918,229 was sold, at $180.70, down 73 cents. Other currencies bought, amounted to the equivalent of US$1,031,148, while selling was for the equivalent of US$783,955.
Highs & Lows| The highest buying rate for the US dollar, closed 10 cents lower, at $112.75, the lowest buying and the highest selling rates, were unchanged at $91.85 and $117.70 respectively, the lowest selling rate dropped $2.18 to $91.85. The highest buying rate for the Canadian dollar remained at $101, the lowest buying rate rose 83 cents to $80.26, the highest selling rate fell 46 cents to $103.54. The lowest selling rate closed down 10 cents to $96.20. The highest buying rate for the British Pound, increased by 55 cents to $182, the lowest buying rate was unchanged at $144.96. The highest selling rate, dropped $1.23 to $185.65 and the lowest selling rate rose $1.15 to $175.80.
BNS & NCB in grand US$ sell off on Friday
October 10, 2014 by IC Insider.com
Filed Under: Breaking News, Feature Stories, FX Market, Stock Market Tagged With: BOJ, British Pound, Canadian dollar, Jamaica dollar, NCB, Scotia, US Dollar
About IC Insider.com
[…] National Commercial Bank bought US$2,954,333 on Thursday and sold $33,731,041 to help push the total sales of United States dollars by dealers to US$64 million. Trading on Thursday resulted in slight changes in the Jamaican dollar against the US dollar and the Canadian but it fell a bit versus the Pound sterling. The purchase of all currencies by dealers amounted to the equivalent of US$34,195,247 compared with US$40,851,340, on Wednesday and selling, the equivalent of US$65,454,392 versus sale of US$44,427,944, previously. In US dollar trading, dealers bought US$30,929,977 compared to US$38,957,982 on Wednesday. The buying rate for the US dollar fell 3 cents to $115.69 and US$64,242,043 was sold versus US$42,974,812 on Wednesday, the selling rate increased by 1 cent to $116.12. The Canadian dollar buying rate declined 4 cents to $92.32 with dealers buying C$558,061 and selling C$564,155, at an average rate that fell 3 cents to $95.22. The rate for buying the British Pound rose $1.74 to $179.61 for the purchase of £1,662,400, while £335,075, was sold, at an average rate that rose 96 cents to $180.83. At the end of trading it took J$128.92 to purchase the Euro, 25 cents less than on Wednesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$126.55 for a fall of 9 cents on Wednesday’s rate. Other currencies bought, amounted to the equivalent of US$239,179, while the equivalent of US$227,937, was sold. Highs & Lows| The highest buying rate for the US dollar, rose 5 cents to $116.35. The lowest buying and the highest rates were unchanged at $94.98 and $121.71 respectively but the lowest selling rate added 21 cents to $94.98. The highest buying rate for the Canadian dollar rose 30 cents to $95.10. The lowest buying rate remained unchanged at $75.36, the highest selling rate slipped 84 cents to $97.16 and the lowest selling rate fell $1.20 to $90.80. The highest buying rate for the British Pound, declined $1.60 to $181.90, the lowest buying rate closed unchanged at $144.63, the highest selling rate fell 94 cents to $185.51 with the lowest selling rate dropping $1.25 to $174.25. […]