BOJ sale swells volume in forex market

Bank Of Jamaica intervened in the forex market on Monday by selling into the system, helping to swell the amounts traded to nearly $80 million. The intervention did not stop slippage in the Jamaican dollar as it fell in value against the US and the British Pound, but gained on Canadian dollar, on Monday. Purchase of all currencies by dealers, translated to US$79,904,490 compared with the US$36,907,493, on Friday and selling of the equivalent of US$79,481,863 versus US$31,955,892 sold on Friday.
In US dollar trading, dealers bought US$75,875,427 compared to US$32,907,129 on Friday. The buying rate for the US dollar rose 25 cents to $115.46 and US$74,047,298 was sold versus US$29,758,416 on Friday, with the selling rate climbing 3 cents to $115.75. The Canadian dollar buying rate lost $1.76 to $90.41 with dealers buying C$1,149,455, and selling C$818,541, at an average selling rate that dropped 43 cents, to $92.98. The rate for buying the British Pound rose 21 cents to $171.79 for the purchase of £1,963,437, while £2,926,101 was sold, the rate rose 82 cents to $174.15. At the end of trading it took J$130.19 to purchase the Euro, $1.70 lower than on Friday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.67, $1.63 lower than on Friday. Other currencies bought, amounted to the equivalent of US$207,763 while the equivalent of US$374,464, was sold.
Highs & Lows| The highest buying rate for the US dollar, climbed 95 cents to $117 and the lowest buying rate rose 12 cents to $94.31. The highest selling rate moved up 6 cents to $120.91, while the lowest selling rate dropped $18.76 to $94.19. The highest buying rate for the Canadian dollar fell 9 cents to $94, the lowest buying fell 17 cents to $73.87. The highest selling rate fell $1 to $97 and the lowest selling rate eased 20 cents to $89. The highest buying rate for the British Pound, declined 50 cents to $174.40. The lowest buying rate dropped $1.95 to $138.61, the highest selling rate climbed 44 cents to $178.69 and the lowest selling rate declined $2.20 to $167.