Purchases by dealers of foreign currencies on Thursday, resulted in the Jamaican currency selling rate slipping against the Canadian and US dollar. The market closed with dealers buying the equivalent of US$28,138,795 in contrast to US$32,445,592 on Wednesday, while they sold the equivalent of US$26,796,262, previously US$36,993,445.
In US dollar trading , dealers bought US$25,757,077 compared to US$28,613,770 on Wednesday. The buying rate for the US dollar rose 10 cents to $116.94 and US$25,025,994 was sold versus US$35,596,264 on Wednesday, the selling rate increased 2 cents to $117.53. The Canadian dollar buying rate 
dropped 2 cents to $87.23 with dealers buying C$839,532 and selling C$1,044,703, at an average rate that rose 49 cents to $89.95. The rate for buying the British Pound climbed 47 cents to $181.18 for the purchase of £1,020,720, while £497,769 was sold, at an average rate that dropped 37 cents to $183.76. At the end of trading, it took J$129.92 to purchase the Euro, with a rise of 29 cents from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.24 for a gain of 18 cents on Wednesday’s rate. Other currencies bought, amounted to the equivalent of US$174,103, while the equivalent of US$192,515 was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 10 cents to $117.80 while the lowest buying and the highest selling rates were unchanged at $96.19 and $123.26 respectively, the lowest selling rate dipped $18.81 to $96.19. 
The highest and lowest buying rates for the Canadian dollar were unchanged at $89.70 and $71.63 respectively. The highest selling rate gained 14 cents to end at $92.34 and the lowest selling rate fell $1.10 to $85.50. The highest buying rate for the British Pound, rose 40 cents to $184.10, the lowest buying rate remained at $148.07. The highest selling rate jumped $3.38 to $190.89 and the lowest selling rate inched up 40 cents to $178.40.
J$ loses value again on Thursday
J$ falters on Wednesday
Purchases by dealers of foreign currencies on Wednesday, resulted in the Jamaican currency selling rate slipping against the three main traded currencies. The market closed with dealers buying the equivalent of US$32,445,592 in contrast to US$30,886,074 on Tuesday, while they sold the equivalent of US$36,993,445, previously US$46,140,237.
In US dollar trading , dealers bought US$28,613,770 compared to US$27,806,629 on Tuesday. The buying rate for the US dollar fell 6 cents to $116.84 and US$35,596,264 was sold versus US$44,707,607 on Tuesday, the selling rate increased 3 cents to $117.51. The Canadian dollar buying rate dropped 49 cents to $87.25 with dealers buying C$856,525 and selling C$474,844, at an average rate that rose 9 cents to $89.46. The rate for buying the British Pound declined 31 cents to $180.71 for the purchase of £2,014,694, while £473,498 was sold, at an 
average rate that climbed $1.72 to $184.13. At the end of trading, it took J$129.63 to purchase the Euro, with a decline of 41 cents from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.06 for a fall of 32 cents off Tuesday’s rate. Other currencies bought, amounted to the equivalent of US$76,201, while the equivalent of US$293,772 was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 5 cents to $117.70 while the lowest buying and the highest selling rates were unchanged at $96.19 and $123.26 respectively, the lowest selling rate jumped $18.81 to $115. 
The highest buying rate for the Canadian dollar dropped $1.80 to $89.70. The lowest buying rate gained 66 cents to $71.63, the highest selling rate dipped 30 cents to end at $92.20 and the lowest selling rate rose 90 cents to $86.60. The highest buying rate for the British Pound, dropped 30 cents to $183.70, the lowest buying rate rose 62 cents to $148.07, the highest selling rate dipped $2.58 to $187.51 and the lowest selling rate inched up 35 cents to $178.
J$ slips on Tuesday
Purchases by dealers of foreign currencies on Tuesday, resulted in the Jamaican currency selling rate mostly slipping. The market closed with dealers buying the equivalent of US$30,886,074 in contrast to US$47,062,033 on Monday, while they sold the equivalent of US$46,140,237, previously US$45,274,288.
In US dollar trading , dealers bought US$27,806,629 compared to US$42,791,535 on Monday. The buying rate for the US dollar rose 13 cents to $116.90 and US$44,707,607 was sold versus US$42,919,455 on Monday, the selling rate increased 5 cents to $117.48. The Canadian dollar buying rate gained 32 cents to $87.74 with dealers buying C$1,368,158 and selling C$831,468, at an average rate 
that rose 2 cents to $89.37. The rate for buying the British Pound climbed 93 cents to $181.02 for the purchase of £1,223,641, while £391,072 was sold, at an average rate that dipped 1 cent to $182.42. At the end of trading, it took J$130.04 to purchase the Euro, with a decline of 45 cents from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.38 for a fall of 48 cents off Monday’s rate. Other currencies bought, amounted to the equivalent of US$157,751, while the equivalent of US$192,856 was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 17 cents to $117.75 while the lowest buying, the highest and lowest selling rates were 
unchanged at $96.19, $123.26 and $96.19 respectively. The highest buying rate for the Canadian dollar jumped $1.50 to $91.50. The lowest buying rate lost 49 cents to $70.97, the highest selling rate added 16 cents to end at $92.50 and the lowest selling rate declined 40 cents to $85.70. The highest buying rate for the British Pound, dropped $4.06 to $184, the lowest buying rate fell 17 cents to $147.45, the highest selling rate dipped 21 cents to $190.09 and the lowest selling rate fell 20 cents to $177.65.
J$ gains all round on Monday
Purchases by dealers of foreign currencies on Monday, resulted in the Jamaican currency selling rates making gains on all currencies. The market closed with dealers buying the equivalent of US$47,062,033 in contrast to US$29,745,740 on Friday, while they sold the equivalent of US$45,274,288, previously US$28,648,727.
In US dollar trading , dealers bought US$42,791,535 compared to US$27,282,457 on Friday. The buying rate for the US dollar fell 6 cents to $116.77 and US$42,919,455 was sold versus US$27,192,334 on Friday, the selling rate decreased 1 cent to $117.43. The Canadian dollar buying rate fell 14 cents to $87.42 with dealers buying C$1,881,308 and selling C$1,381,874, at an average rate 
that dropped 49 cents to $89.35. The rate for buying the British Pound dropped 34 cents to $180.09 for the purchase of £1,483,662, while £606,987 was sold, at an average rate that dipped 3 cents to $182.43. At the end of trading, it took J$130.49 to purchase the Euro, with a decline of 18 cents on Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.86 for a fall of 25 cents on Friday’s rate. Other currencies bought, amounted to the equivalent of US$573,877, while the equivalent of US$360,399 was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 2 cents to $117.58 while the lowest buying and the highest rates were unchanged at 
$96.19 and $123.26 respectively and lowest selling rate rose 4 cents to $96.19. The highest buying rate for the Canadian dollar declined 10 cents to $90. The lowest buying rate lost 17 cents to $71.46, the highest selling rate remained at $92.34 and the lowest selling rate declined 90 cents to $86.10. The highest buying rate for the British Pound, jumped $4.86 to $188.06, the lowest buying rate rose 29 cents to $147.62, the highest selling rate climbed 38 cents to $190.30 and the lowest selling rate fell 15 cents to $177.85.
J$ trades relatively stable on Friday
Purchases by dealers of foreign currencies on Friday, resulted in the Jamaican currency selling rates being relatively stable. The market closed with dealers buying the equivalent of US$29,745,740 in contrast to US$39,692,814 on Thursday, while they sold the equivalent of US$28,648,727, previously US$37,409,650.
In US dollar trading , dealers bought US$27,282,457 compared to US$34,834,813 on Thursday. The buying rate for the US dollar fell 6 cents to $116.83 and US$27,192,334 was sold versus US$35,232,533 on Thursday, the selling rate increased 1 cent to $117.44. The Canadian dollar buying rate fell just 2 cents to $87.56 with dealers buying C$1,050,607 and selling C$777,391, at an average rate 
that rose 7 cents to $89.84. The rate for buying the British Pound dropped 31 cents to $180.43 for the purchase of £981,454, while £471,119 was sold, at an average rate that dipped 16 cents to $182.46. At the end of trading, it took J$130.67 to purchase the Euro, with a decline of 71 cents on Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.12 for a fall of 59 cents on Thursday’s rate. Other currencies bought, amounted to the equivalent of US$160,191, while the equivalent of US$129,744 was sold.
Highs & Lows| The highest and lowest buying rates, the highest and lowest selling rates for the US dollar,were unchanged at $117.60, $96.19, 
$123.26 and $96.15 respectively. The highest buying rate for the Canadian dollar declined 90 cents to $90.10. The lowest buying rate remained at $71.63, the highest selling rate lost 16 cents to $92.34 and the lowest selling rate rose 70 cents to $87. The highest buying rate for the British Pound, was unchanged at $183.20, the lowest buying rate rose just 5 cents to $147.33, the highest selling rate climbed $3 to $189.92 and the lowest selling rate grew $2 to $178.
J$ trade mix on Thursday
Purchases by dealers of foreign currencies on Thursday, resulted in the Jamaican currency selling rates being mixed with the locally currency slipping just 2 cents versus the dominant US dollar. The market closed with dealers buying the equivalent of US$39,692,814 in contrast to US$34,248,600 on Wednesday, while they sold the equivalent of US$37,409,650, previously US$42,427,499.
In US dollar trading , dealers bought US$34,834,813 compared to US$31,335,438 on Wednesday. The buying rate for the US dollar rose 11 cents to $116.89 and US$35,232,533 was sold versus US$41,081,381 on Wednesday, the selling rate increased 2 cents to $117.43. The Canadian dollar buying rate fell 
45 cents to $87.58 with dealers buying C$1,047,913 and selling C$870,233, at an average rate that declined 15 cents to $89.78. The rate for buying the British Pound climbed 53 cents to $180.74 for the purchase of £2,559,153, while £816,276 was sold, at an average rate that climbed 2 cents to $182.62. At the end of trading, it took J$131.38 to purchase the Euro, with a rise of $1.69 on Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.70 for a rise of $1.54 on Wednesday’s rate. Other currencies bought, amounted to the equivalent of US$115,598, while the equivalent of US$242,327 was sold.
Highs & Lows| The highest buying rate for the US dollar, gained 5 cents to $117.60, the lowest buying rate rose 4 cents to $96.19, the highest 
selling rates climbed 5 cents to $123.26 and the lowest selling rate remained at $96.15. The highest buying rate for the Canadian dollar rose 70 cents to $91. The lowest buying rate rose 54 cents to $71.63, the highest selling rate lost 50 cents to $92.50 and the lowest selling rate slipped 60 cents to $86.30. The highest buying rate for the British Pound, was unchanged at $183.20, the lowest buying rate rose $1.03 to $147.28, the highest selling rate dived $2.47 to $186.92 and the lowest selling rate dropped $1.50 to $176.
J$ slips against all on Wednesday
Purchases by dealers of foreign currencies on Wednesday, resulted in the Jamaican currency losing value against the three main currencies it regularly trades against, but the rate of the local currency has been relatively stable over the past two and a half weeks versus the United States dollar hovering around the $117.40 mark. The market closed with dealers buying the equivalent of US$34,248,600 in contrast to US$38,264,784 on Tuesday, while they sold the equivalent of US$42,427,499, previously US$50,151,893.
In US dollar trading , dealers bought US$31,335,438 compared to US$34,542,850 on Tuesday. The buying rate for the US dollar declined 8 cents to $116.78 and US$41,081,381 was sold versus US$47,644,632 on Tuesday, the selling rate increased 2 cents to $117.41. The Canadian dollar buying rate rose 50 cents to $88.03 with dealers buying C$1,355,970 and selling C$698,801, at an average 
rate that rose 18 cents to $89.93. The rate for buying the British Pound climbed 80 cents to $180.21 for the purchase of £1,076,904, while £460,885 was sold, at an average rate that climbed 59 cents to $182.60. At the end of trading, it took J$129.69 to purchase the Euro, with a rise of 82 cents on Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.17 for a rise of 81 cents on Tuesday’s rate. Other currencies bought, amounted to the equivalent of US$229,051, while the equivalent of US$94,152 was sold.
Highs & Lows| The highest buying rate for the US dollar, gained 6 cents to $117.55, but there were no changes to the lowest buying and the highest selling rates that remained at $96.15 and $123.21, respectively. The lowest selling rate 
gave up the $1.90 it gained the on the previous day, to end at $96.15. The highest buying rate for the Canadian dollar rose 90 cents to $90.30. The lowest buying rate rose 29 cents to $71.09, the highest selling rate gained just 10 cents to $93 and the lowest selling rate rose $1.40 to $86.90. The highest buying rate for the British Pound, fell 60 cents to $183.20, the lowest buying rate was unchanged at $146.25, the highest selling rate put on 86 cents to $189.39 and the lowest selling rate jumped $1.30 to $177.50.
J$ slips against all on Tuesday
Purchases by dealers of foreign currencies on Tuesday, resulted in the Jamaican currency losing value against three main currencies it regularly trades against. The rate of the local currency has been relatively stable over the past two weeks versus the United States dollar. The market closed with dealers buying the equivalent of US$38,264,784 in contrast to US$60,881,491 on Monday, while they sold the equivalent of US$50,151,893, previously US$47,409,801.
In US dollar trading , dealers bought US$34,542,850 compared to US$55,326,993 on Monday. The buying rate for the US dollar rose 3 cents to $116.86 and US$47,644,632 was sold versus US$45,378,025 on Monday, the selling rate increased 3 cents to $117.39. The Canadian dollar buying rate rose 42 cents to $87.53 with dealers buying C$1,594,307 and selling C$1,271,027, at an average rate 
that rose 67 cents to $89.75. The rate for buying the British Pound fell 4 cents to $179.41 for the purchase of £1,521,362, while £761,295 was sold, at an average rate that climbed 55 cents to $182.01. At the end of trading, it took J$128.86 to purchase the Euro, with a rise of 47 cents on Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$126.36 for a rise of 67 cents on Monday’s rate. Other currencies bought, amounted to the equivalent of US$192,135, while the equivalent of US$355,091 was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 11 cents to $117.49, but there were no changes to the lowest buying and the highest selling rates that remained at $96.15 and $123.21, respectively. The lowest selling rate 
rose $1.90 to end at $98.05. The highest buying rate for the Canadian dollar fell 50 cents to $89.40. The lowest buying rate rose 17 cents to $70.80, the highest selling rate gained $1.64 to $92.90 and the lowest selling rate rose 30 cents to $85.50. The highest buying rate for the British Pound, increased $1.10 to $183.80, the lowest buying rate rose 5 cents to $146.25, the highest selling rate put on 5 cents to $188.53 and the lowest selling rate jumped $26.47 to $176.20.
J$ makes gains on Monday
Purchases by dealers of foreign currencies on Monday, resulted in the Jamaican currency was stable versus the US and gained against the British Pound but slipped versus the Canadian. The market closed with dealers buying the equivalent of US$60,881,491 in contrast to US$34,870,069 on Friday, while they sold the equivalent of US$47,409,801, previously US$29,135,013.
In US dollar trading , dealers bought US$55,326,993 compared to US$31,870,265 on Friday. The buying rate for the US dollar rose 19 cents to $116.83 and US$45,378,025 was sold versus US$27,464,923 on Friday, the selling rate remained at $117.36. The Canadian dollar buying rate declined 38 cents to $87.11 with dealers buying C$2,036,937 and selling C$1,012,104, at an average rate that 
rose 18 cents to $89.08. The rate for buying the British Pound rose 14 cents to $179.45 for the purchase of £2,314,933, while £574,033 was sold, at an average rate that fell 72 cents to $181.46. At the end of trading, it took J$128.39 to purchase the Euro, with a rise of 83 cents on Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$125.68 for a rise of 95 cents on Friday’s rate. Other currencies bought, amounted to the equivalent of US$479,894, while the equivalent of US$375,955 was sold.
Highs & Lows| There were no changes to the highest and lowest trading 
rates for the US dollar, on Monday, with the rates remaining at $117.60, $96.15, $123.21 and $96.15 respectively. The highest buying rate for the Canadian dollar rose 45 cents to $89.90. The lowest buying rate remained a $70.63, the highest selling rate fell $2.24 to $91.26 and the lowest selling rate declined 80 cents to $85.20. The highest buying rate for the British Pound, declined $1.40 to $182.70, the lowest buying rate declined $1.29 to $146.20, the highest selling rate dropped $1.66 to $188.48 and the lowest selling rate dropped $27.72 to $149.73.
Noose tightening around Cambios
The noose continues to tighten around the necks of Cambios. According to a recent release from Jamaica’s central bank, the Jamaica Bankers’ Association has given notice that some of its members will discontinue accepting foreign currency banknotes from or issuing foreign currency banknotes to Money Service Businesses (MSBs), effective on or before 8 September 2015.
As a consequence, deposit-taking institutions (DTIs) who act as surrender agents, by accepting funds on behalf of BOJ under the Bank’s Surrender Requirement, will not be accepting surrenders from cambios in cash.
Cambios that will be impacted by this action will be granted a 6-month moratorium on surrenders to BOJ, effective 17 August 2015, while alternative options are being explored to facilitate cambios to comply with the surrender requirement. At the end of the moratorium period on 17 February 2016, or before, BOJ will communicate with affected cambios on the new arrangements.
“Note that non-cash surrenders are unaffected by the banks’ decision, and in that regard, the moratorium does not apply to cambios that surrender via the use of noncash instruments” the BOJ release concluded.