The Jamaican dollar lost further grounds against the US dollar at the end of trading on Thursday, with the local currency ending at $119.15 to buy the green back. Trading ended in the foreign exchange market with the equivalent of US$27,465,721 bought by dealers, compared with US$28,756,679 on Wednesday, while they sold the equivalent of US$29,489,151 versus US$32,772,881 previously.
In US dollar trading , dealers bought US$24,803,259 compared to US$25,863,046 on Wednesday. The buying rate for the US dollar rose 10 cents to $118.45 and US$27,712,745 was sold versus US$31,422,964 on Wednesday, the selling rate gained 9 cents to end at $119.15.
The Canadian dollar buying rate jumped $2.33 to end at $88.43, with dealers buying C$1,927,180 and selling C$1,617,812, at an average rate that rose 89 cents to $89.51. The rate for buying the British Pound fell 83 cents to $177.03 for the purchase of £758,888, while £295,490 was sold, at an average rate that declined 59 cents to $179.56. At the end of trading, it took J$132.90 to purchase the Euro, with a fall of 69 cents from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$130.12, for a loss of 65 cents from Wednesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$89,512 being bought, while US$115,794 was sold. Highs & Lows| The highest buying rate for the US dollar dropped $2 on Thursday to $117.35, the lowest buying rate lost $1.71 to end at $95.82, the highest selling rate was up 14 cents to $122.78 while the lowest selling rate climbed $17.17 to $114.70. 
The highest buying rate for the Canadian dollar gained $4 to $93, the lowest buying rate rose $3.65 to $73.99, the highest selling rate rose $5.15 to end at $96.40 and the lowest selling rate jumped $4.65 to $89.15. The highest buying rate for the British Pound, increased $3.50 to end at $184. The lowest buying rate climbed $2.16 to $147.12, the highest selling rate gained $2.61 to $187.38 and the lowest selling rate jumped $2.75 to close at $177.25.
More Jamaican dollar losses on Thursday
J$ steadies vs US on Wednesday
The Jamaican dollar selling rate held firm against the US dollar at the end of trading on Wednesday, with the local currency ending at $119.06 to buy the green back. Trading ended in the foreign exchange market with the equivalent of US$28,756,679 bought by dealers, compared with US$29,680,202 on Tuesday, while they sold the equivalent of US$32,772,881, versus US$37,843,436 previously.
In US dollar trading , dealers bought US$25,863,046 compared to US$26,694,055 on Tuesday. The buying rate for the US dollar rose 2 cents to $118.35 and US$31,422,964 was sold versus US$36,211,236 on Tuesday, the selling rate remained at $119.06. The Canadian dollar buying rate lost 36 cents to end at $86.10, with dealers buying C$639,293 and selling C$531,137, at an average rate that fell 5 cents to $88.62. 
The rate for buying the British Pound fell 51 cents to $177.86 for the purchase of £1,431,722, while £443,937 was sold, at an average rate that rose 36 cents to $180.15. At the end of trading, it took J$133.58 to purchase the Euro, with a rise of 21 cents from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$130.77, for a gain of 9 cents from Tuesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$276,781 being bought, while US$282,829 was sold.
Highs & Lows| The highest buying rate for the US dollar rose 5 cents on Wednesday to $119.35, the lowest buying rate added 9 cents to end at $97.53, the highest selling rate was unchanged at $122.64 while the lowest selling rate climbed $10.33 to $97.33.
The highest buying rate for the Canadian dollar gained 50 cents to $89, the lowest buying rate lost 42 cents to $70.34, the highest selling rate rose 31 cents to end at $91.25 and the lowest selling rate was unchanged at $84.50. The highest buying rate for the British Pound, increased 25 cents to end at $180.50. The lowest buying rate lost 29 cents to $144.96, the highest selling rate gained 26 cents to $184.77 and the lowest selling rate dropped 50 cents to close at $174.50.
New low for Jamaican $ on Tuesday
The Jamaican dollar slipped to its lowest level against the US dollar at the end of trading on Tuesday, with the local currency ending at $119.06 to buy the green back. Trading ended in the foreign exchange market with the equivalent of US$29,680,202 bought by dealers, compared with US$45,002,605 on Monday, while they sold the equivalent of US$37,843,436, versus US$35,574,946 previously.
In US dollar trading , dealers bought US$26,694,055 compared to US$40,969,765 on Monday. The buying rate for the US dollar fell 4 cents to $118.33 and US$36,211,236 was sold versus US$34,148,900 on Monday, the selling rate climbed 7 cents to close at $119.06 The Canadian dollar buying rate lost $1.08 to end at $86.46, with dealers buying C$784,688 and selling C$652,773, at an average rate that fell 17 cents to $88.67. 
The rate for buying the British Pound rose $1.40 to $178.37 for the purchase of £1,417,527, while £549,830 was sold, at an average rate that rose 9 cents to $179.79. At the end of trading, it took J$133.37 to purchase the Euro, with a rise of 38 cents from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$130.68, for a gain of 31 cents from Monday’s rate. The US dollar equivalent of other currencies traded, amounts to US$275,982 being bought, while US$315,768 was sold.
Highs & Lows| The highest buying rate for the US dollar fell 20 cents on Tuesday to $119.30, the lowest buying rate was unchanged at $97.44, the highest selling rate dropped $2.23 to $122.64 while the lowest selling rate dived $12.17 to $87.20. 
he highest buying rate for the Canadian dollar dipped $1.50 to $88.50, the lowest buying rate lost 4 cents to $70.76, the highest selling rate fell $1.36 to end at $90.94 and the lowest selling rate jumped $10.94 to $84.50. The highest buying rate for the British Pound, lost 45 cents to end at $180.25. The lowest buying rate lost 21 cents to $145.25, the highest selling rate dropped $3.02 to $184.50 and the lowest selling rate remained unchanged at $175.
Big island states poor currency performers
The smaller economies within the Caribbean region appear to be better managed than the larger economies in the region. IC Insider.com looked at the exchange movements of Jamaica, Costa Rica, Guyana and Dominica Republic between 1972 to date, to see how they performed against each other.
No studies appear to be have been done on this feature of the region and the major reasons why large states seems to be managed so poorly compared to the much smaller ones. The major movement in exchange rates of the countries’ currencies against the United States dollar speaks eloquently of the differences in management quality or could it be that the larger countries are much more difficult to manage? The smaller islands of Barbados, the Eastern Caribbean and the Cayman Islands have maintained the value of their currencies to that of the US from 1972 until now.
At the beginning of 1972 it took 6.635 colon to purchase one United States dollar, by 1989, the amount increased to 79.7335 colon for an increase of 12 times the 1972 value. By the end of 1999 it required 50 times the amount in 1972 or 331.796 colons to buy the US dollar. By 2009 it took 554.5 colon to buy the US dollar or 83.6 times the amount in 1972. As of September this year it requires 80.2 times the amount in 1972 to purchase the US dollar which trades at 532.45 colon to US$1.
In the case of Guyana it took GY$2.087 in 1972 to buy the Us dollar but by 1989 it required 13.4 times the amount as in 1972 as the rate slipped to GY$27.95. By 1999 it was taking GY$178.63 or 85.6 times the 1972 figure, for the next ten years the change slowed markedly to GY$202.876 or 97 times the 1972 and in September 2015 the rate inched up to GY$205.79.
In the case of Dominican Republic it took 1 peso in 1972 to buy the Us dollar but by 1989 it required 6.53 times the amount as in 1972 as the rate slipped to 6.53 pesos. By 1999 it was taking 16.09 or 16 times the 1972 figure. By 1999 the Dominican peso fell further in value, requiring 35.35 pesos or 35 times the 1972 figure to buy the buck. In September 2015 the rate climbed to 44.26 pesos to the US dollar or 44 times the amount in 1972.
Jamaica has turned out to be by far, the worst performing currency in the Caribbean region since 1972 and probably the worst managed economy. Between 1972 and September this year, it takes 154.55 more Jamaican dollar to buy one United States dollar as the country’s economy has performed poorly. Having been trading at 77 Jamaican cents to the US dollar for a number of years, by the January 10, 1973, the Jamaican dollar was devalued by 15 percent to 91 cents to one US dollar. On the January 13, 1978, the official rate had moved to $1.05, by May 10, the rate ended at $1.55 and ended at $1.69 on the last day of the year. On May 2, 1979 the rate moved to $1.78 where it stayed until November 1983, at which stage the rate moved to $3.15. By 1985 the rate climbed to $5.50 and to $6.50 by the end of 1989, taking 365 percent more Jamaican dollars to buy the US dollar, since 1983 and requiring 8.44 times the amount in 1972.
Ten years later in 1999, the rate reached $41.42, requiring 637 percent more local currency to but one US dollar than ten years before, and 53.8 times the amount in 1972. By the end of 2009, the rate moved to $89.60, requiring just over twice the amount of Jamaican dollars for one US dollar. At the end of trading on Friday September 25, 2015 at just over $119 to 1 US dollar for the first time, requiring 33 percent more Jamaican dollars to purchase the US dollar, than at the end of 2009.
J$ slips below 119 to US$1 on Monday
Trading ended Monday in the foreign exchange market with the equivalent of US$45,002,605 bought by dealers, compared with US$32,449,484 on Friday, while they sold the equivalent of US$35,574,946, versus US$29,004,619 previously as the selling rate for the US dollar dropped below the $119 level by 3 cents.
In US dollar trading , dealers bought US$40,969,765 compared to US$30,260,875 on Friday. The buying rate for the US dollar fell 8 cents to $118.37 and US$34,148,900 was sold versus US$27,678,764 on Friday, the selling rate fell 3 cents to close at $118.99.
The Canadian dollar buying rate added 63 cents to end at $87.55, with dealers buying C$1,811,574 and selling C$1,009,947, at an average rate that rose 29 cents to $88.84. The rate for buying the British Pound dropped $1.12 to $176.97 for the purchase of £1,118,515, while £351,758 was sold, at an average rate that dropped $1.70 to end at $179.70. At the end of trading, it took J$132.99 to purchase the Euro, with a drop by $1.32 from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$130.37, for a fall of $1.57 from Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$1,020,657 being bought, while US$140,799 was sold.
Highs & Lows| The highest buying rate for the US dollar climbed 38 cents on Monday to $119.50, the lowest buying and the highest selling rates were unchanged at $97.44 and $124.87 respectively while the lowest selling rate rose $1.92 to $99.37. 
The highest buying rate for the Canadian dollar rose 31 cents to $90, the lowest buying rate gained 37 cents to $70.80, the highest selling rate climbed 77 cents to end at $92.30 and the lowest selling rate dropped $11.94 to $73.56. The highest buying rate for the British Pound, lost 80 cents to end at $180.70. The lowest buying rate, the highest and lowest selling rates remained unchanged at $145.46, $187.52 and $175 respectively.
From 77 cents to J$119 to US
On January 1973 it took only 77 Jamaican cents to buy one United States dollar, roughly 43 years later it now requires an average of 119 of the local currency to purchase one US dollar. A technical assessment of the currency movement suggests that the fall in the value could be coming to an end sooner than later.
Having being trading at 77 Jamaican cents to the US dollar for a number of years, by the January 10, 1973, the Jamaican dollar was devalued by 15 percent to 91 cents to one US dollar. On the January 13, 1978 the official rate had moved to $1.05, by May 10 the rate ended at $1.55 and ended at $1.69 on the last day of the year. On May 2, 1979 the rate moved to $1.78 where it stayed until November 1983, at which stage the rate moved to $3.15. By 1985 the rate climbed to $5.50 and to $6.50 by the end of 1989, taking 365 percent more Jamaican dollars to buy the US dollar, since 1983. Ten years later in 1999, the rate reached $41.42, requiring 637 percent more local currency to but one US dollar than ten years before and by the end of 2009 it moved to $89.60, requiring just over twice the amount of Jamaican dollars for exchange for one US dollar and at the end of trading on Friday surpassed J$119 to 1 US dollar for the first time, requiring 33 percent more Jamaican dollars to purchase the US dollar, than at the end of 2009.
Trading ended Friday with the equivalent of US$32,449,484 bought by dealers, compared with US$53,172,006 on Thursday, while they sold the equivalent of US$29,004,619, versus US$58,244,225 previously. In US dollar trading , dealers bought US$30,260,875 compared to US$50,560,723 on Thursday.
The buying rate for the US dollar fell 20 cents to $118.45 and US$27,678,764 was sold versus US$56,905,545 on Thursday, the selling rate rose 4 cents to close at $119.02. The Canadian dollar buying rate added 16 cents to $86.92, with dealers buying C$849,774 and selling C$480,605, at an average rate that lost 60 cents to $88.55. The rate for buying the British Pound dropped $1 to $178.09 for the purchase of £965,327, while £529,965 was sold, at an average rate that rose 64 cents to end at $181.41. At the end of trading, it took J$134.31 to purchase the Euro, with a jump of $1.73 on Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$131.93, for a rise of $2.06 from Thursday’s rate. The US dollar equivalent of other currencies traded, amounts to US$113,653 being bought, while US$160,542 was sold.
Highs & Lows| The highest buying rate for the US dollar dropped $1.38 on Friday to $119.12, the lowest buying rate gained 16 cents to $97.44, 
the highest selling rate ended 21 cents higher at $124.87 while the lowest selling rate dived $1.74 lower to $97.45. The highest buying rate for the Canadian dollar rose 69 cents to $89.69, the lowest buying rate dipped $1.03 to $70.43, the highest selling rate climbed 13 cents to end at $91.53 and the lowest selling rate rose 50 cents to $85.50. The highest buying rate for the British Pound, added 12 cents to end at $181.50, the lowest buying rate slipped 12 cents to $145.46, the highest selling rate climbed $1.72 to $187.52 and the lowest selling rate dropped 40 cents to $175.
Only 2 cents away on Thursday from J$119
The Jamaican dollar at the end of trading on Thursday declined further against the US dollar to be just 2 cents away from J$119 to 1. Trading ended with the equivalent of US$53,172,006 bought by dealers, compared with US$29,454,444 on Wednesday, while they sold the equivalent of US$58,244,225, versus US$38,709,609 previously.
In US dollar trading , dealers bought US$50,560,723 compared to US$27,318,495 on Wednesday. The buying rate for the US dollar rose 34 cents to $118.65 and US$56,905,545 was sold versus US$37,086,688 on Wednesday, the selling rate rose 2 cents to close at $118.98. The Canadian dollar buying rate fell 26 cents to $86.76, with dealers buying C$925,551 and selling C$857,418, at an average rate that lost 40 cents to $89.15. 
The rate for buying the British Pound rose 40 cents to $179.09 for the purchase of £1,110,369, while £345,791 was sold, at an average rate that dropped 67 cents to end at $180.76. At the end of trading, it took J$132.58 to purchase the Euro, with a rise of 28 cents on Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.88, for a rise of 40 cents from Wednesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$258,627 being bought, while US$170,855 was sold.
Highs & Lows| The highest buying rate for the US dollar on Thursday, the lowest buying and the highest selling rates remained at $120.50, $97.28 and $124.66 respectively while the lowest selling rate dived $16.11 to $99.19.
The highest buying rate for the Canadian dollar declined $1.50 to $89, the lowest buying rate remained at $71.46, the highest selling rate declined 73 cents to end at $91.40 and the lowest selling rate slipped 50 cents to $85. The highest buying rate for the British Pound, dropped $2.62 to $181.38, the lowest buying rate dropped $1.66 to $145.58, the highest selling rate dived $4.02 to $185.80 and the lowest selling rate dropped 10 cents to $175.40.
J$ racing lower vs US on Wednesday
The Jamaican dollar declined further against the US on Wednesday as trading ended with the equivalent of US$29,454,444 bought by dealers, compared with US$28,126,519 on Tuesday, while they sold the equivalent of US$38,709,609, versus US$27,742,141 previously.
In US dollar trading , dealers bought US$27,318,495 compared to US$24,426,414 on Tuesday. The buying rate for the US dollar rose 25 cents to $118.31 and US$37,086,688 was sold versus US$26,566,997 on Tuesday, the selling rate rose 14 cents to close at $118.96. The Canadian dollar buying rate rose 38 cents to $87.01, with dealers buying C$987,645 and selling C$854,933, at an average rate that added 75 cents to $89.55. 
The rate for buying the British Pound fell $2.36 to $178.69 for the purchase of £882,108, while £446,384 was sold, at an average rate that dropped $1.28 to end at $181.43. At the end of trading, it took J$132.29 to purchase the Euro, with a fall by 72 cents on Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.48, for a decline of 70 cents from Tuesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$77,228 being bought, while US$298,488 was sold.
Highs & Lows| The highest buying rate for the US dollar jumped $1.42 cents to $120.50 on Wednesday. The lowest buying rate and the highest selling rate remained at $97.28 and $124.66 respectively and the lowest selling rate jumped $18.02 to $115.30. 
The highest buying rate for the Canadian dollar jumped $1.30 to $90.50, the lowest buying rate rose 8 cents to end at $71.46, the highest selling rate declined 96 cents to end at $92.13 and the lowest selling rate remained unchanged at $85.50. The highest buying rate for the British Pound, gained 80 cents to $184, the lowest buying rate slipped 92 cents to $147.24, the highest selling rate climbed $1.66 to $189.82 and the lowest selling rate dropped $2 to $175.50.
J$ loses modestly vs US on Tuesday
The Jamaican dollar loss modestly against the US on Tuesday as trading ended with the equivalent of US$28,126,519 bought by dealers, compared with US$37,071,417 on Monday, while they sold the equivalent of US$27,742,141, versus US$38,611,906 previously.
In US dollar trading, dealers bought US$24,426,414 compared to US$34,186,451 on Monday. The buying rate for the US dollar rose 1 cent to $118.06 and US$26,566,997 was sold versus US$35,640,829 on Monday, the selling rate rose 1 cent to close at $118.82. The Canadian dollar buying rate fell 27 cents to $86.63, with dealers buying C$756,523 and selling C$636,593, at an average rate that fell $1.63 to $88.80. 
The rate for buying the British Pound climbed 32 cents to $181.05 for the purchase of £1,995,879, while £379,448 was sold, at an average rate that dropped $1.65 to end at $182.71. At the end of trading, it took J$133.01 to purchase the Euro, with a fall by $2.17 on Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$130.17, for a decline of $2.26 from Monday’s rate. The US dollar equivalent of other currencies traded, amounts to US$84,437 being bought, while US$115,923 was sold.
Highs & Lows| The highest buying rate for the US dollar 
rose 3 cents to $119.08 on Tuesday. The lowest buying rate, the highest and lowest selling rates remained at $97.28, $124.66 and $97.28 respectively. The highest buying rate for the Canadian dollar dropped 90 cents to $89.20, the lowest buying rate fell $1 to end at $71.38, the highest selling rate declined 21 cents to end at $93.09 and the lowest selling rate remained unchanged at $85.50. The highest buying rate for the British Pound, dropped $1.80 to $183.20, the lowest buying rate slipped 91 cents to $148.16, the highest selling rate dived $4.01 to $188.16 and the lowest selling rate was unchanged at $177.50.
J$ made modest gains vs US on Monday
The Jamaican dollar gained modestly against the US on Monday as trading ended with the equivalent of US$37,071,417 bought by dealers, compared with US$31,852,692 on Friday, while they sold the equivalent of US$38,611,906, versus US$28,523,499 previously.
In US dollar trading , dealers bought US$34,186,451 compared to US$29,664,276 on Friday. The buying rate for the US dollar fell 13 cents to $118.05 and US$35,640,829 was sold versus US$27,412,881 on Friday, the selling rate slipped 1 cent to close at $118.81
The Canadian dollar buying rate fell 65 cents to $86.90, with dealers buying C$1,201,346 and selling C$2,466,912, at an average rate that rose 11 cents to $90.43. The rate for buying the British Pound fell $1.11 to $180.73 for the purchase of £1,155,490, while £591,450 was sold, at an average rate that rose 25 cents to end at $184.36. At the end of trading, it took J$135.18 to purchase the Euro, a rise of 79 cents on Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$132.44, for an increase of 69 cents from Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$231,560 being bought, while US$175,719 was sold.
Highs & Lows| The highest buying rate for the US dollar rose 5 cents to $119.05 on Monday. 
The lowest buying rate and the highest selling rate remained at $97.28 and $124.66 respectively, while the lowest selling rate dropped $18.02 to $97.28. The highest buying rate for the Canadian dollar dropped 20 cents to $90.10, the lowest buying rate added 75 cents to end at $72.38, the highest selling rate rose 21 cents to end at $93.30 and the lowest selling rate fell $1.20 to close at $85.50. The highest buying rate for the British Pound, rose 35 cents to $185, the lowest buying rate gained $1.08 to $149.07, the highest selling rate jumped $2.56 to $192.17 and the lowest selling rate was unchanged at $177.50.