Bank of Jamaica’s intervention in the forex market on Thursday, continued to affect forex trading on Friday and seems set to do so on Monday, usually the biggest trading day.
On Friday the selling rates for all three main currencies declined, as the Jamaican dollar strengthened. On Friday, dealers bought the equivalent of $34,345,235 versus US$81,413,723 on Thursday and sold the equivalent of US$27,608,212 compared to US$76,753,326 sold on the previous day.
In US dollar trading, dealers bought US$26,461,541 compared to US$79,215,627 on Thursday as the buying rate for the US dollar fell 45 cents to $112.06 and sold US$22,353,327 versus US$75,110,656 on Thursday, with the rate falling 2 cents to $112.69.
The Canadian dollar buying rate rose $1.78 cents, to $104.58 with dealers buying C$3,168,875 and selling, C$3,114,771 as the rate declined 66 cents, to $105.33.
The Pound closed at $191.28, for the purchase of £2,827,323, the rate climbed $2.08, while £1,313,681 was sold, with the rate declining by 32 cents to $192.66. Other currencies bought, amounted to the equivalent of US$100,110 while selling was the equivalent of just US$97,465.
Highs & Lows| There were several highs and lows that were unchanged at the end of trading. The highest rate for buying the US dollar fell 20 cents to $113, the lowest buying and the highest selling rates were unchanged at $92.02 and $117.91 respectively and the lowest selling rate rose 40 cents to $110.20.
The highest buying rate for the Canadian dollar fell by 25 cents, to $105.95 and the lowest buying, the highest and lowest selling rates were unchanged at $83.83, $108.07 and $101 respectively.
The highest buying rate for the British Pound, fell 30 cents to $193, while the lowest buying rate was unchanged at $154.75 and the highest selling rate declined by $3.27 to $196.29, the lowest selling rate was unchanged at $186.45.
BOJ’s intervention still impacts FX market
July 11, 2014 by
