BOJ selling swells FX flows on Monday

The Jamaican dollar was relatively stable against the US dollar at the end of trading on Monday, on a day that saw $88 million inflows into the system and $83 million leaving, a clear sign that Bank of Jamaica intervened by selling into the market. Trading ended in the foreign exchange market with the equivalent of US$87,964,632 bought by dealers, compared with US$26,531,581 on Friday, while they sold the equivalent of US$82,948,742 versus US$29,137,984 previously.
In US dollar trading , dealers bought US$84,551,283 compared to US$23,410,069 on Friday. The buying rate for the US dollar rose 47 cent to $118.93 and US$81,821,341 was sold versus US$27,690,189 on Friday, the selling rate declined 1 cent to end at $119.23. The Canadian dollar buying rate rose 74 cents to end at $87.81, with dealers buying C$1,393,777 and selling C$636,212, at an average rate that fell 41 cents to $90.18. The rate for buying the British Pound declined $1.39 to $177.12 for the purchase of £1,392,812, while £320,644 was sold, at an average rate that remained at $179.45. At the end of trading, it took J$134.45 to purchase the Euro, with a rise of 94 cents on Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$131.57, for a gain of 85 cents on Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$309,978 being bought, while US$163,604 was sold.
Highs & Lows| The highest buying rate for the US dollar eased 7 cents on Monday to $119.45, the lowest buying rate slipped 9 cents to end at $97.61, the highest and lowest selling rates were unchanged at $125.19 and $97.69 respectively. The highest buying rate for the Canadian dollar jumped $1.90 to $92, the lowest buying rate gained 37 cents to $71.42, the highest selling rate climbed $1.60 to end at $94.20 and the lowest selling rate fell $1 to $84. The highest buying rate for the British Pound, declined 65 cents to end at $180.55. The lowest buying rate leapt $13 to $141.20, the highest selling rate gained $1.65 to $187.30 and the lowest selling rate plummeted $12.50 to close at $162.30.