Net inflows of foreign exchange traded by authorized dealers, continue to build, but only slightly with Tuesday’s net flows ended at the equivalent of just under US$1 million more purchases than sales, leaving the surplus since the end of June to US$95 million. In Tuesday’s trading, dealers bought US$43,327,457 while they sold US$42,722,998, compared to US$47,919,715 purchased and US$36,831,264 sold on Monday of all currencies, as the value for the Jamaican dollar fell.
In US dollar trading, dealers bought US$38,551,129 compared to US$44,489,970 on Monday. The buying rate for the US dollar gained 2 cents to $125.74.
A total of US$37,840,792 was sold versus US$34,967,119 on Monday with the selling rate rising 2 cents to end at $126.40. The Canadian dollar buying rate rose $1.69 to end at $94.66, with dealers buying C$2,975,831 and selling C$4,626,313, at an average rate that climbed $1.51 to $97.10. The average rate for buying the British Pound climbed 69 cents to $163.29 for the purchase of £1,861,847, while £854,880 was sold to end at $165.64, with a rise of $1.37.
At the end of trading, the selling rate for the Euro, rose 38 cents to close at J$140.06 from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$131.96, for a fall of $5.28. The US dollar equivalent of other currencies traded amounts to US$118,272 being bought, while US$208,116 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, 
for the Jamaican dollar in the foreign exchange market on Tuesday, include, a jump of $19.38 in the lowest selling rate of the US dollar to close at $122.50, there was a rise of $1.95 in the highest buying rate of the Canadian Dollar to $97.60, a fall of $1, in the lowest selling rate to $90 while trading in the British Pound resulted in a gain of $7.57 in the highest buying rate to end at $173.88 and a rise of $1.65 in the lowest buying rate to close at $133.63.
Surplus FX continues to build
Surplus FX jumps to US$94m
Net inflows of foreign exchange traded by authorized dealers, continue to build, with Monday’s net flows ended at the equivalent of US$11 million more foreign currency purchased than sold, bringing the surplus since the end of June to US$94 million. In Monday’s trading, dealers bought US$47,919,715 while they sold US$36,831,264, compared to US$40,933,781 purchased and US$38,774,308 sold on Friday of all currencies, as the value for the Jamaican dollar rose.
In US dollar trading, dealers bought just under US$10 million more in United States currency than they sold. They pulled in US$44,489,970 compared to US$37,244,686 on Friday. The buying rate for the US dollar fell 15 cents to $125.72. A total of US$34,967,119 was sold versus US$35,482,174 on Friday with the selling rate falling 7 cents to end at $126.38.
The Canadian dollar buying rate fell $2.06 to end at $92.97, with dealers buying C$1,878,218 and selling C$989,708, at an average rate that declined 36 cents to $95.59. The average rate for buying the British Pound climbed $1.07 to $162.60 for the purchase of £1,462,800, while only £500,300 was sold, with the rate falling 46 cents to $164.27.
At the end of trading, the selling rate for the Euro, rose 87 cents to close at J$139.68 from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$137.24, for a rise of $2.99. The US dollar equivalent of other currencies traded amounts to US$149,061 being bought, while US$465,263 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Monday, include, a drop of $1.85 in the highest buying rate of the Canadian Dollar to $95.65, a rise of $1, in the lowest selling rate to $91 while trading in the British Pound resulted in a fall of $1.04 in the lowest buying rate to close at $131.97 and a drop of $1.40 in the highest selling rate to end at $171.72.
Surplus of FX up to US$83m
Net inflows into Jamaican foreign exchange market on Friday, ended with US$2 million more foreign currency purchased, than sold bought by dealers, bringing the surplus bought by them to US$83 million since the end of June. In Friday’s trading, dealers bought US$40,933,781 while they sold US$38,774,308, compared to US$29,816,964 purchased and US$38,116,490 sold on Thursday of all currencies, as the rate for the Jamaican dollar ended mixed against all major currencies.
In US dollar trading, dealers sold just under US$2 million less in United States currency than they bought. They hauled in US$37,244,686 compared to US$27,157,682 on Thursday. The buying rate for the US dollar rose 13 cents to $125.87.
A total of US$35,482,174 was sold versus US$36,075,776 on Thursday with the selling rate rising 7 cents to end at $126.45. The Canadian dollar buying rate fell 19 cents to end at $95.03, with dealers buying C$2,914,720 and selling C$2,769,620, at an average rate that declined $1.47 to $95.95. The average rate for buying the British Pound dipped $1.54 to $161.53 for the purchase of £808,896, while only £317,442 was sold, with the rate falling 77 cents to $164.73.
At the end of trading, the selling rate for Euro, declined by $3.07 to close at J$138.81 from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European 
common currency at J$134.25, for a rise of 88 cents. The US dollar equivalent of other currencies traded amounts to US$450,440 being bought, while US$776,955 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Friday, include, a drop of $2 in the lowest selling rate of the Canadian Dollar to $90, a fall of $1.50, in the highest buying rate of the British Pound to close at $165.50 and a drop of $3.70 in the lowest selling rate to end at $153.80.
Surplus of FX drops to US$80m
Net inflows into Jamaican foreign exchange market on Thursday, ended with US$8 million more foreign currency being sold, than bought by dealers, bringing the surplus bought by them down to US$81 million since the end of June. In Thursday’s trading, dealers bought US$29,816,964 while they sold US$38,116,490, compared to US$44,986,438 purchased and US$37,620,031 sold on Wednesday of all currencies, as the rate for the Jamaican dollar ended mixed against all major currencies.
In US dollar trading, dealers sold US$9 million more in United States currency than they bought thus reversing the net inflows on Wednesday. They pulled in US$27,157,682 compared to US$41,842,638 on Wednesday. 
The buying rate for the US dollar fell 13 cents to $125.74. A total of US$36,075,776 was sold versus US$32,713,341 on Wednesday with the selling rate rising 2 cents to end at $126.38. The Canadian dollar buying rate jumped $1.75 to end at $95.22, with dealers buying C$1,319,812 and selling C$1,256,100, at an average rate that declined $1.17 to $97.42. The average rate for buying the British Pound dipped $1.78 to $163.08 for the purchase of £1,197,319, while only £605,882 was sold, with the rate rising 29 cents to $165.50.
At the end of trading, the selling rate for Euro, climbed $2.48 to close at J$141.88 from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$133.36, for $1.68 less than on 
Wednesday. The US dollar equivalent of other currencies traded amounts to US$106,962 being bought, while US$278,966 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Thursday, include, a drop of $1 in the lowest selling rate of the Canadian Dollar to $92, a fall of $2.49, in the highest buying rate of the British Pound to close at $167 and a rise of $2.24 in the highest selling rate to end at $173.07.
Surplus FX up to US$90m for July
Net inflows into Jamaican FX market on Wednesday, ended with US$7 million more foreign currency being bought, than sold by dealers, bringing the surplus bought by them to US$89 million since the end of June. In Wednesday’s trading, dealers bought US$44,986,438 while they sold US$37,620,031, compared to US$30,368,738 purchased and US$30,794,502 sold on Tuesday of all currencies, as the Jamaican dollar appreciated against all major currencies.
In US dollar trading, dealers bought US$9 million more in United States currency than they sold. They raked in US$41,842,638 compared to US$27,604,778 on Tuesday but that did not prevent a rise in the rate. The buying rate for the US dollar fell 20 cents to $125.87.
A total of US$32,713,341 was sold versus US$29,108,096 on Tuesday with the selling rate rising 4 cents to end at $126.36. The Canadian dollar buying rate fell 31 cents to end at $93.47, with dealers buying C$889,172 and selling C$2,971,092, at an average rate that jumped $2.40 to $98.59. The average rate for buying the British Pound climbed $2.60 to $164.86 for the purchase of £1,803,849, while only £518,022 was sold, with the rate falling $1.31 to $165.21.
At the end of trading, the selling rate for Euro, climbed 7 cents to close at J$139.40 from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$135.05, for $1.30 more than on Tuesday. The US dollar equivalent of other currencies traded amounts to US$120,884 being bought, while US$1,911,277 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Wednesday, include, a drop of $1.76 in the highest buying rate of the Canadian Dollar to $98.16 and a fall of 83 cents in the lowest buying rate to end at $76.90, while the highest buying rate of the British Pound dropped $2.51 to close at $169.49, the lowest buying rate jumped $43.51 to $132.51. the highest selling rate dropped $4.24 to $170.83 and the lowest selling rate fell $1.65 to $157.60.
Mixed rate movement for J$ – Tuesday
Net inflows into Jamaican FX market on Tuesday ended with slightly more foreign currency being sold, than bought by dealers, resulting in a mix of rate movements at the end of trading. In Tuesday’s trading, dealers bought US$30,368,738 while they sold only US$30,794,502, compared to US$53,836,136 purchased and US$36,901,981 sold on Monday of all currencies, as the Jamaican dollar appreciated against all major currencies.
In US dollar trading, dealers bought US$27,604,778 compared to US$51,088,781 on Monday as the buying rate for the US dollar fell 2 cents to $125.67. A total of US$29,108,096 was sold versus US$34,939,544 on Monday with the selling rate rising 4 cents to end at $126.32. 
The Canadian dollar buying rate climbed 91 cents to end at $93.78, with dealers buying C$1,056,274 and selling C$601,979, at an average rate that fell 57 cents to $96.19. The average rate for buying the British Pound fell 91 cents to $162.26 for the purchase of £1,367,685, while £741,948 was sold, with the rate gaining 73 cents to $166.52.
At the end of trading, the selling rate for Euro, dropped $2.89 to close at J$139.33 from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$133.78, for a fall of $1.12 from Monday’s rate. The US dollar equivalent of other 
currencies traded amounts to US$209,876 being bought, while US$249,915 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Tuesday, include, a drop of $1.31 in the highest selling rate of the Canadian Dollar to $100.21 and a rise $1.70 in the lowest selling rate to end at $93, while the highest buying rate of the British Pound climbed 63 cents to close at $172 and the lowest buying dropped $45.79 to $89.
Stockpile jumps US$17M on Monday
Net inflows into Jamaican FX market ended at US$82 million in just over the last three weeks as inflows continue to exceed outflows. So far, the build-up has not had a great deal of impact on rates, with the US dollar closing at $126.28, compared to $126.38 at the end of June.
In Monday’s trading, dealers bought US$53,836,136 while they sold only US$36,901,981, compared to US$33,384,248 purchased and US$24,963,354 sold on Friday of all currencies, as the Jamaican dollar appreciated against all major currencies.
In US dollar trading, dealers bought US$51,088,781 compared to US$30,676,215 on Friday as the buying rate for the US dollar fell 1 cent to $125.69. A total of US$34,939,544 was sold versus US$23,514,139 on Friday with the selling rate falling 11 cents to end at $126.28. 
The Canadian dollar buying rate declined $1.85 cents to end at $92.87, with dealers buying C$1,034,930 and selling C$766,532, at an average rate that fell $1.16 to $96.76. The average rate for buying the British Pound fell 59 cents to $163.17 for the purchase of £1,386,112, while £815,168 was sold, with the rate falling $2.72 to $165.79.
At the end of trading, the selling rate for Euro, rose $1.64 to close at J$142.22 from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$134.87, for a fall of $4.82 from Friday’s rate.
The US dollar equivalent of other currencies traded amounts to US$183,184 being bought, while US$304,830 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Monday, include, a drop of $1.20 in the lowest selling rate of the Canadian Dollar to $91.30 while the highest buying rate of the British Pound climbed 98 cents to $172.63, the lowest buying rate rose 33 cents to end at $134.79, the highest selling rate jumped $2.74 to end at $175.39 and the lowest selling rate fell $1 to end at $159.
US$8M more stockpiled Friday
Net inflows into Jamaican FX market ended at just over US$65 million in the last three weeks as inflows continue to exceed outflows. So far, the build-up has not had a great deal of impact on rates, with the US dollar closing at $126.39, compared to $126.38 at the end of June. In Friday’s trading, dealers bought US$33,384,248 while they sold only US$24,963,354, compared to US$31,271,588 purchased and US$26,915,897 sold on Thursday of all currencies.
In US dollar trading, dealers bought US$30,676,215 compared to US$28,969,620 on Thursday as the buying rate for the US dollar fell 1 cent to $125.70. A total of US$23,514,139 was sold versus US$25,427,424 on Thursday with the selling rate rising by 3 cents to end at $126.39. 
The Canadian dollar buying rate rose by 64 cents to end at $94.72, with dealers buying C$1,087,177 and selling C$372,283, at an average rate that rose $1.69 to $97.92. The average rate for buying the British Pound lost 4 cents to $163.76 for the purchase of £1,353,499, while £417,196 was sold, with the rate rising 75 cents to $168.51.
At the end of trading, the selling rate for Euro, rose 90 cents to close at J$140.57 from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$139.69, for a rise of $2.44 from Thursday’s rate. 
The US dollar equivalent of other currencies traded amounts to US$125,437 being bought, while US$604,594 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Friday, include, a jump of $4.50 in the lowest selling rate of the Canadian Dollar to $92.50 while the highest buying rate of the British Pound climbed $4.35 to $171.65, the lowest buying rate rose 83 cents to end at $134.46, the highest selling rate dipped $1.23 to end at $172.65 and the lowest selling rate rose $2.30 to end at $160.
US$4M more stockpiled
Net inflows into Jamaican FX market continues to build, with another US$4 million added to the stock pile of dealers, bringing the net intake by authorized dealers in just over the last three weeks to US$57 million. With July being one of the high inflow months, net inflow is likely to build as the month rolls on and should have a moderating effect on the rate of exchange of the local dollar.
In Thursday’s trading, dealers bought US$31,271,588 while they sold only US$26,915,897, compared to US$34,994,312 purchased and US$24,571,087 sold on Wednesday of all currencies.
In US dollar trading, dealers bought US$28,969,620 compared to US$32,067,439 on Wednesday as the buying rate for the US dollar climbed 2 cents to $125.71. A total of US$25,427,424 was sold versus US$22,288,467 on Wednesday with the selling rate rising by 2 cents to end at $126.36. 
The Canadian dollar buying rate rose by 37 cents to end at $94.08, with dealers buying C$719,515 and selling C$374,474, at an average rate that declined $2.47 to $96.23. The average rate for buying the British Pound climbed $1.52 to $163.80 for the purchase of £862,147, while £433,881 was sold, with the rate rising $1.40 to $167.76.
At the end of trading, the selling rate for Euro, rose 89 cents to close at J$139.67 from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$137.25, for a rise of $2.86 from Wednesday’s rate. The US dollar equivalent of other currencies traded amounts to US$640,080 being bought, while US$627,257 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Thursday, include, a fall of $1.55 in the highest buying rate of the Canadian Dollar to $97.50 while the lowest selling rate fell by $3 to $88. The highest buying rate of the British Pound dropped $4.22 to $167.30, the lowest buying rate jumped $1.41 to end at $133.63, the highest selling rate climbed $2.18 to end at $173.88.
This is really serious
Net inflows into Jamaican FX market continues to build, with another US$10 million haul, added to the stock pile of dealers, bringing the net intake by authorized dealers in just over the last two weeks just US$53 million. With less than half way through July, the net inflows is likely to build even more as inflows improve during the high summer months.
In Wednesday’s trading, dealers bought US$34,994,312 while they sold only US$24,571,087, compared to US$34,285,976 purchased and US$33,801,066 sold on Tuesday of all currencies. As inflows continue to out pace outflows, the local dollar seems heading for some level of revaluation versus the US dollar, the help reduce the stock pile of funds.
In US dollar trading, dealers bought US$32,067,439 compared to US$30,509,159 on Tuesday as the buying rate for the US dollar climbed 3 cents to $125.69. A total of US$22,288,467 was sold 
versus US$30,651,019 on Tuesday with the selling rate easing by 4 cents to end at $126.34. The Canadian dollar buying rate rose by 13 cents to end at $93.71, with dealers buying C$761,670 and selling C$1,442,461, at an average rate that climbed 96 cents to $98.70. The average rate for buying the British Pound dropped $1.14 to $162.28 for the purchase of £1,744,609, while £628,819 was sold, with the rate rising $1.19 to $166.36.
At the end of trading, the selling rate for Euro, dropped $1.69 to close at J$138.79 from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$134.39, for a fall of $2.89 from Tuesday’s rate.
The US dollar equivalent of other currencies traded amounts to US$106,485 being bought, while US$327,708 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Wednesday, include, a rise of $2.45 in the highest buying rate of the Canadian Dollar to $99.05 while the lowest selling rate fell by $1 to $91. The highest selling rate of the British Pound jumped $1.57 to $171.70 and the lowest selling rate fell 93 cents to end at $157.