Jamaican$ fairly stable on Wednesday

The Jamaican dollar rose in value in the foreign exchange trading on Wednesday, with the rate of exchange to buy the US dollar by the public, declined to $126.52 as dealers sold US$39.17 million of the US dollar, compared to US$43.27 million at an average rate of $126.54 on Tuesday.
US currency purchases amounted to US$39.23 million on Wednesday, at an average rate of $125.58 compared to Tuesday, with US$39.31 million at $125.59.
Dealers’ purchased US$51.30 million, versus US$54.28 million on Tuesday in all currencies in Jamaica’s forex market and sold US$50.64 million compared with US$59.20 million of all currencies sold previously.
At Midday, dealers bought US$18 million at J$126.07 and sold US$10.9 million at J$126.44 compared to the purchase of US$12.9 million at US$10.5 million at J$126.62.
The selling rate for the Canadian dollar slipped to J$99.63 from J$99.70 at the close on Tuesday. The selling rate for the British Pound edged to J$167.19 versus J$167.18 on Tuesday and the euro lost value against the Jamaican dollar, rose to J$149.50 to buy the European common currency, versus J$149.72 previously.

No B-Fxitt sale by BOJ in December

There are unlikely to be any sale of foreign exchange by Bank of Jamaica during December, a release from the central bank suggests.
according to Jamaica’s central bank “market intelligence provided by authorised dealers and cambios on prevailing and prospective market conditions indicates that there is no need for the Bank to add foreign exchange to the market during the first two weeks of December 2017. The B‐FXITT process remains in place and Bank of Jamaica will continue to assess market intelligence going forward and engage with the foreign exchange market as appropriate.
The amounts the central bank made available in November was reduced to US$4 million per auction down from a usual amount of $10 million in the past. Based on historical tends with increase inflows into the system from Mid-December is very unlikely that the central bank will be doing much selling and could in turn start the auction to buy surpluses from the market which is expected to occur from December until April next year.
The change comes against the back ground of Bank of Jamaica reducing their compulsory take from 25 percent to 20 percent which will result in between US$40 and $50 million more available for the public on a monthly basis as well as a clear sign of sell off of foreign exchange by dealers from October.

Jamaican$ value improves – Tuesday

Trading in the foreign exchange market the rate of exchange to buy the US dollar by the public, declining again on Tuesday to $126.54 as dealers sold US$43.27 million of the US dollar, compared to US$41.70 million at an average rate of $126.58 on Monday.
US currency purchases amounted to US$39.31 million on Tuesday, at an average rate of $125.59 compared to Monday, with US$43.65 million at $125.55.
Dealers’ purchased US$54.28 million, versus US$48.63 million on Monday in all currencies in Jamaica’s forex market and sold US$59.20 million compared with US$45.47 million of all currencies sold previously.
At Midday, dealers bought US$12.9 million at J$125.90 and sold US$10.5 million at J$126.62 compared to the purchase of US$9.9 million at J$125.92 and selling of US$4.3 million at J$126.74.
The selling rate for the Canadian dollar climbed to J$99.70 from J$98.88 at the close on Monday. The selling rate for the British Pound slipped to J$167.18 versus J$167.27 on Monday and the euro gained value against the Jamaican dollar, rose to J$149.72 to buy the European common currency, versus J$149.28 previously.

Jamaican$ gains value moderately – Monday

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Trading in the foreign exchange market returned to normal levels on Monday, compared to Friday with a C$60 million sell off of the Canadian Dollar.
By the close of trading, the rate of exchange to buy the US dollar by the public, fell on Monday to $126.58 as dealers sold US$41.70 million of the US dollar, compared to US$24.76 million at an average rate of $126.64 on Friday.
US currency purchases amounted to US$43.65 million on Monday, at an average rate of $125.55 compared to Friday, with US$28.39 million at $125.38.
Dealers’ purchased US$48.63 million, versus US$38.85 million on Friday in all currencies in Jamaica’s forex market and sold US$45.47 million compared with US$73.49 million of all currencies sold previously.
At Midday, dealers bought US$9.9 million at J$125.92 and sold US$4.3 million at J$126.74 compared to the purchase of US$9.6 million at J$125.96 and selling of US$8.9 million at J$126.78.
The selling rate for the Canadian dollar dipped to J$98.88 from J$99.99 at the close on Friday as the Canadian dollar dominated trading on Friday. The selling rate for the British Pound rose to J$167.27 versus J$166.43 on Friday and the euro gained value against the Jamaican dollar, to J$149.28 to buy the European common currency, versus J$148.11 previously.

Jamaican$ gains – Thursday

The rate of exchange to buy the US dollar by the public rose on Thursday to $126.62 as dealers sold US$32.99 million of the US dollar, compared to US$47.67 million at an average rate of $126.74 on Wednesday.
US currency purchases amounted to US$32.30 million on Thursday, at an average rate of $125.76 compared to Wednesday with US$44.36 million at $125.89.
Dealers’ purchased US$47.89 million, versus US$55.58 million on Wednesday in all currencies in Jamaica’s forex market and sold US$46.03 million compared with US$58.02 million of all currencies sold previously.
The selling rate for the Canadian dollar declined to J$99.72 from J$99.90 at the close on Wednesday. The selling rate for the British Pound fell to J$165.67 versus J$167.18 on Wednesday and the euro surged in value against the Jamaican dollar, to J$148.78 to buy the European common currency, versus J$150.01 previously.

Jamaican$ value slips – Wednesday

The rate of exchange to buy the US dollar by the public rose on Wednesday to $126.74 as dealers sold US$47.67 million of the US dollar, compared to US$48.09 million at an average rate of $126.64 on Tuesday.
US currency purchases amounted to US$44.36 million on Wednesday, at an average rate of $125.89 compared to Tuesday with US$59.23 million at $126.15.
Dealers’ purchases dipped to US$55.58 million, versus US$74.79 million on Wednesday in all currencies in Jamaica’s forex market and sold US$58.02 million compared with US$61.65 million of all currencies sold previously.
The selling rate for the Canadian dollar declined to J$99.90 from J$100.20 at the close on Tuesday. The selling rate for the British Pound jumped to J$167.18 versus J$165.09 on Tuesday and the euro surged in value against the Jamaican dollar, to J$150.01 to buy the European common currency, versus J$147.39 previously.

Jamaican$ value remains steady – Tuesday

The rate of exchange to buy the US dollar by the public was unchanged on Tuesday at $126.64 as dealers sold US$48.09 million of the US dollar, compared to US$36.75 million at an average rate of $126.64 on Monday.
US currency purchases amounted to US$59.23 million on Tuesday, at an average rate of $126.15 compared to Monday with US$48.04 million at $125.77.
Dealers’ purchases climbed to US$74.79 million, versus US$53.77 million on Tuesday in all currencies in Jamaica’s forex market and sold US$61.65 million compared with US$41.69 million of all currencies sold previously.
The selling rate for the Canadian dollar inched lower to J$100.20 from J$100.21 at the close on Monday. The selling rate for the British Pound fell to J$165.09 versus J$166.02 on Monday and the euro decline in value against the Jamaican dollar, to J$147.39 to buy the European common currency, versus J$147.66 previously.

Jamaican$ value rises – Monday

The rate of exchange to buy the US dollar by the public fell on Monday to $126.64 as dealers sold US$36.75 million of the US dollar, compared to US$38.30 million at an average rate of $126.83 on Friday.
US currency purchases amounted to US$48.04 million on Friday, at an average rate of $125.77 compared to Friday with US$31.29 million at $125.65.
Dealers purchased US$53.77 million, versus US$39.92 million on Monday in all currencies in Jamaica’s forex market and sold US$41.69 million compared with US$45.92 million of all currencies sold previously.
The selling rate for the Canadian dollar inched up to J$100.21 from J$100.20 at the close on Friday. The selling rate for the British Pound slipped to J$166.02 versus J$166.14 on Friday and the euro decline in value against the Jamaican dollar, to J$147.662 to buy the European common currency, versus J$148.62 previously.

Jamaican$ value slips moderately – Friday

The rate of exchange to buy the US dollar by the public, increased on Friday to $126.83 as dealers sold US$38.30 million in the US dollars compared to US$34.63 million, at an average rate of $126.75 on Thursday.
US currency purchases amounted to US$31.29 million on Friday, at an average rate of $125.65 compared to Thursday, with US$39.10 million at $126.95.
Dealers purchased US$39.92 million, versus US$53.58 million on Thursday in all currencies in Jamaica’s forex market and sold US$45.92 million compared with US$47.74 million of all currencies sold previously.
For the week a total of US$257 million was bought by dealers and they sold $240 million, but trades in US dollar resulted in dealers buying $204 million and the sale of $200 million..
At Midday, dealers bought US$13.16 million at J$126.89 and sold US$10.5 million at J$126.81 compared to the purchase of US$15.6 million at J$126.33 and selling of US$15.1 million at J$126.81.
The selling rate for the Canadian dollar rose to J$100.20 from J$100.03 at the close on Thursday. The selling rate for the British Pound slipped to J$166.14 versus J$166.19 on Thursday and the euro rose in value against the Jamaican dollar, to J$148.62 to buy the European common currency, versus J$146.18 previously.

Jamaican$ improves to $126.75 to US$ – Thursday

The rate of exchange for to buy the US dollar by the public slipped further on Thursday to $126.75 as dealers sold US$34.63 million of the US dollar, compared to US$35.83 million at an average rate of $126.90 on Wednesday.
US currency purchases amounted to US$39.10 million on Thursday, at an average rate of $125.95 compared to Wednesday, with US$37.17 million at $126.06.
Dealers purchased US$53.58 million, versus US$47.42 million on Wednesday in all currencies in Jamaica’s forex market and sold US$47.74 million compared with US$45.70 million of all currencies sold previously.
At Midday, dealers bought US$15.6 million at J$126.32 and sold US$15.1 million at J$126.81 compared to the purchase of US$13.2 million at J$126.51 and selling of US$6.66 million at J$126.81.
The selling rate for the Canadian dollar rose to J$100.03 from J$99.65 at the close on Wednesday. The selling rate for the British Pound rose to J$166.19 versus J$166.02 on Wednesday and the euro fell in value against the Jamaican dollar, to J$146.18 to buy the European common currency, versus J$149.02 previously.