Inflows of finds into the system for the first week of September fell to just US$171 million from US$270 million in the first week of August while outflows stood at US$145 million versus US$213 million for the same period.
Trading in the Jamaican foreign exchange market slowed on Friday, resulting in US$32.08 of purchases by dealers of all currencies and outflows of US$33.58 million.
In contrast, purchases by dealers on Thursday amounted to the equivalent of US$34.55 million while dealers sold US$25.84 million.
In USA dollar trading, inflows ended at US$28.73 million versus US$32.45 million on Thursday with outflows of US$31.87 million compared to US$24.24 million.
At the end of trading, the US dollar was sold at an average rate of J$130.11 from J$129.96 previously while dealers bought the US currency at an average of J$128.35 versus J$128.69 on Thursday.
The selling rate for the Canadian dollar climbed to J$106.95 from J$105.61 at the close on Thursday while the British Pound was less costly, with J$168.87 buying the British currency versus J$169.24 and the euro, lost value against the Jamaican dollar, with it taking J$157.26 to buy the European common currency, versus J$157.79 previously.
Forex inflows down in September vs August – Friday
Jamaica’s forex trading moderates – Thursday
Trading in the Jamaican foreign exchange market slowed on Thursday, resulting in US$34.55 of purchases by dealers of all currencies and outflows of US$25.84 million.
In contrast, purchases by dealers on Wednesday amounted to the equivalent of US$50.57 million while dealers sold US$42.83 million.
In USA dollar trading, inflows ended at US$32.45 million versus US$40.92 million on Wednesday with outflows of US$24.24 million compared to US$34.27 million.
At the end of trading, the US dollar was sold at an average rate of J$129.96 from J$129.91 previously while dealers bought the US currency at an average of J$128.69 versus J$128.63 on Wednesday.
The selling rate for the Canadian dollar climbed to J$106.61 from J$105.61 at the close on Wednesday while the British Pound was more costly, with J$169.24 buying the British currency versus J$168.72 and the euro, gained in value against the Jamaican dollar, with it taking J$157.79 to buy the European common currency, versus J$155.69 previously.
Jamaica’s forex trading remains elevated – Wednesday
Trading in the Jamaican foreign exchange market remained elevated on Wednesday, resulted in US$50.57 of purchases by dealers of all currencies and outflows of US$42.83 million.
In contrast, purchases by dealers on Tuesday amounted to the equivalent of US$53.88 million while dealers sold US$42.39 million.
In USA dollar trading, inflows ended at US$40.92 million versus US$46.71 million on Tuesday with outflows of US$34.27 million compared to US$36.62 million.
At the end of trading, the US dollar was sold at an average rate of J$129.91 from J$129.42 previously while dealers bought the US currency at an average of J$128.63 versus J$128.29 on Tuesday.
The selling rate for the Canadian dollar climbed to J$105.61 from J$105.17 at the close on Tuesday while the British Pound was more costly, with J$168.72 buying the British currency versus J$165.79 and the euro, gained in value against the Jamaican dollar, with it taking J$155.69 to buy the European common currency, versus J$155.95 previously.
Jamaica’s forex trading jumps – Tuesday
Trading in the Jamaican foreign exchange market jumped sharply on Tuesday, resulted in US$53.88 of purchases by dealers of all currencies and outflows of US$42.39 million.
In contrast, purchases by dealers on Monday amounted to the equivalent of US$21.92 million while dealers sold US$13.99 million.
In USA dollar trading, inflows ended at US$46.71 million versus US$19.05 million on Monday with outflows of US$36.62 million compared to a mere US$12.31 million.
At the end of trading, the US dollar was sold rate of J$129.42 from J$129.32 previously while dealers bought the US currency at an average of J$128.29 versus J$126.73 on Monday.
The selling rate for the Canadian dollar climbed to J$105.17 from J$102.94 at the close on Monday while the British Pound was sold at an average of J$165.79 for the British currency versus J$166.99 previously and the euro, gained in value against the Jamaican dollar, with it taking J$155.95 to buy the European common currency, versus J$154.53 previously.
Jamaica’s forex trading falls sharply – Monday
Trading in the Jamaican foreign exchange market dropped sharply on Monday, resulted in only US$21.92 of purchases by dealers of all currencies and outflows of just US$13.99 million.
In contrast, purchases by dealers on Friday amounted to the equivalent of US$42.05 million while dealers sold US$26.69 million.
At the end of trading, the US dollar was sold rate of J$129.32 from J$129.52 previously while dealers bought the US currency at an average of J$126.73 versus J$128.42 on Friday.
In USA dollar trading, inflows ended at US$19.05 million versus US$38.63 million on Friday with outflows of US$12.31 million compared to US$24.41 million.
The selling rate for the Canadian dollar dropped to J$102.94 from J$104.30 at the close on Friday while the British Pound was also less costly, with J$166.99 buying the British currency versus J$167.22 and the euro, gained in value against the Jamaican dollar, with it taking J$154.53 to buy the European common currency, versus J$153.82 previously.
US$ Demand falls sharply in Jamaica – Friday
Trading in the Jamaican foreign exchange market on Friday, resulted in a big difference between purchases and sales, with purchasing of all currencies ending at US$42.05 million and outflows at US$26.69 million.
Purchases by dealers on Thursday amounted to the equivalent of US$83.06 million while dealers sold US$59.28 million.
At the end of trading, the US dollar was sold at J$129.52 from J$129.65 previously while dealers bought the US currency at an average of J$128.42 versus J$128.87 on Thursday.
In USA dollar trading, inflows ended at US$38.63 million versus US$76.39 million on Thursday with outflows of US$24.41 million compared to US$53.52 million.
The selling rate for the Canadian dollar rose to J$104.30 from J$103.77 at the close on Thursday while the British Pound was more costly, with J$167.22 buying the British currency versus J$165.72 and the euro, gained in value against the Jamaican dollar, with it taking J$153.82 to buy the European common currency, versus J$153.55 previously.
Jamaica’s forex inflows jump – Thursday
Trading in the Jamaican foreign exchange market on Thursday resulted in a big surge in the amounts purchased and sold by dealers and a fall in the value of the local currency against the US dollar.
Trading ended with inflows of US$83.06 million compared to US$45.12 million on Wednesday. Outflows amounted to only US$59.28 million compared to US$45.80 million of all currencies on the prior trading day. Inflows for August ended at US$955 million up from US$939 million in July while outflows were almost the same in both months at US$751 million versus US$750 million in July. Interestingly while inflows for June was in the order of August and July at US$939 million outflows were far higher at US$872 million.
At the end of trading the US dollar was sold rate of J$129.65 from J$129.33 previously, even as inflows rose sharply over Wednesday’s intake. Dealers bought the US currency at an average of J$128.87 versus J$128.16 on Wednesday.
In USA dollar trading, inflows ended at US$76.39 million versus US$39.70 million on Wednesday with outflows of US$53.52 million compared to US$37.91 million.
The selling rate for the Canadian dollar rose to J$103.77 from J$103.71 at the close on Wednesday while the British Pound was less costly, with J$165.72 buying the British currency versus J$167.53 and the euro, lost value against the Jamaican dollar, with it taking J$153.55 to buy the European common currency, versus J$157.24 previously.
Jamaican$ drops to J$129.33 to US$1
Trading in the Jamaican foreign exchange market on Wednesday resulted in the Jamaican dollar declining in value against the US dollar, following Tuesday’s decline with the selling rate ending at J$129.33 from J$128.77 previously, even as inflows rose over Tuesday’s intake.
Dealers bought the US currency at an average of J$128.16, versus J$127.36 on Tuesday. Trading ended with inflows of US$45.12 million compared to US$38.41 million on Tuesday with Bank of Jamaica is entitled to approximately 25 percent of the inflows or around $10 million of Wednesday’s intake. Outflows amounted to only US$45.80 million compared to US$35.70 million of all currencies on the prior trading day.
In USA dollar trading, inflows ended at US$39.70 million versus US$31.76 million on Tuesday with outflows of US$37.91 million compared to US$26.33 million.
The selling rate for the Canadian dollar fell to J$103.71 from J$104.44 at the close on Tuesday while the British Pound was more costly, with J$167.53 buying the British currency versus J$167.23 and the euro, rose in value against the Jamaican dollar, with it jumping to J$157.24 to buy the European common currency, versus J$156.41 previously.
US$65m slated for sale by BOJ
The Bank will be offering USD65 million over the next four weeks in its foreign exchange auction to eligible Authorised Dealers and Cambios.
The amount represents an increase over the quantity offered in August of US$35 million prior to the amount to be auctioned on Wednesday, 30 August.
September is usually a period when inflows tend to dip below normal levels and may be the reason why the amounts to be offered have been increased.
The weekly schedule outlined by the BOJ is: US$5 million on Wednesday, 30 August, the same amount as last week, US$10 million on Wednesday, September 6, US$20 million on September 13 and US$30 million on September 20.
The central bank is only returning to the market amounts it would have taken under the compulsory surrender of 25 percent from Authorised Dealers and Cambios during the month. It is unclear as to the reasons why Bank of Jamaica has not reduced their compulsory take from the market. In 200 the central bank hiked the amount when the price of oil was around US$100 a barrel as the amount to fund Petrojam was being provided by BOJ. Now that the price is around U$50 why is the weekly take not reduced?
In 2009, Bank of Jamaica established the Foreign Exchange Surrender Facility for public sector entities (PSE Facility). 
The aim of the facility is to centralize foreign currency demand of the public sector, especially Port Authority of Jamaica, National Water Commission and Petrojam. Under this facility Commercial Banks agreed to surrender fifteen percent (15%) of foreign currency purchases daily. The pre-existing requirement where Authorized Dealers and Cambios surrender within range of five percent (5%) to ten percent (10%) of their gross foreign currency purchases from commercial clients remains in effect. Therefore commercial banks are to surrender, in total between twenty percent (20%) to twenty-five percent (25%) of foreign currency purchases daily. At the start of 2015, the surrender requirements were increased thirty percent to thirty-five percent for Authorised dealers and twenty-five percent for cambios.
Jamaican$ falls again – Tuesday
Trading in the Jamaican foreign exchange market on Tuesday resulted in the Jamaican dollar declining in value against the US dollar, following Monday’s decline with the selling rate ending at J$128.77 from J$128.68 previously.
Dealers bought the US currency at an average of J$127.36, versus J$127.23 on Monday. Trading ended with inflows of US$38.41 million compared to US$45.59 million on Monday with Bank of Jamaica is entitled to approximately 25 percent of the inflows or around $10 million of Tuesday’s intake. Outflows amounted to only US$35.70 million compared to US$30.40 million of all currencies on the prior trading day.
In USA dollar trading, inflows ended at US$ 31.76 million versus US$41.64 million on Monday with outflows of US$26.33 million compared to US$28.38 million.
The selling rate for the Canadian dollar climbed to J$104.44 from J$103.82 at the close on Monday while the British Pound was more costly, with J$167.23 buying the British currency versus J$166.02 and the euro, rose in value against the Jamaican dollar, with it jumping to J$156.41 to buy the European common currency, versus J$151.81 previously.