Dealers bought a net of US$13 million on Tuesday following net sales for most of the previous week. Purchases of all currencies by dealers amounted to a haul of US$67,556,589 equivalent, compared with US$36,675,222, on Thursday and selling of the equivalent of US$54,844,191 versus sale of US$44,135,664, on the previous trading day.
In US dollar trading, dealers bought US$63,349,319 compared to US$32,120,784 on Thursday. The buying rate for the US dollar rose 8 cents to $114.47 and US$52,595,395 was sold versus US$42,297,150 on Thursday, the selling rate fell 7 cents to end at $114.95. The Canadian dollar buying rate fell 99 cents to $89.16 with dealers buying C$2,164,603 and selling C$1,195,762, at an average rate that gained 47 cents to $91.34. The rate for buying the British Pound slipped 13 cents to $167.65 for the purchase of £1,600,733, while £561,850 was sold, at an average rate of $170.23, for a 66 cents rise. At the end of trading it took J$126.91 to purchase the Euro, $3.15 more than on Thursday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$124.32 for a rise of $3.07 on Thursday’s rate. Other currencies bought, amounted to the equivalent of US$176,779 while the equivalent of US$466,474, was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 5 cents to $115.20. The lowest buying rate remained at $93.77. The highest selling dropped $1.07 to $120.16, while the lowest selling rate fell $18.53 to $97.77. The highest buying rate for the Canadian dollar rose 70 cents to $91.90, the lowest buying rate rose by 8 cents to $72.29, but the highest selling rate was up 51 cents to $94.17 with the lowest selling rate falling 50 cents to $86.50. The highest buying rate for the British Pound, rose $1.95 to $172.30, the lowest buying rate declined 16 cents to $136.29 but the highest selling rate jumped $1.76 to $175.69 and the lowest selling rate declined by 20 cents to $164.20.
Forex trading nets US$13M on Tuesday
US$7.5M more sold off on Thursday
Dealers sold a net of US$7.5 million on Thursday following on net sale of US$10 million on Wednesday and US$9 million on Tuesday. There was also net sale on Monday but that was in keeping with surplus on the previous Friday. Purchases of all currencies by dealers amounted to a haul of US$36,675,222 equivalent, compared with US$33,890,697, on Wednesday and selling of the equivalent of US$44,135,664 versus sale of US$43,245,266, on the previous trading day.
In US dollar trading, dealers bought US$32,120,784 compared to US$27,646,745 on Wednesday. The buying rate for the US dollar fell 3 cents to $114.39 and US$42,297,150 was sold versus US$39,278,675 on Wednesday, the selling rate fell 2 cents to end at $115.02. The Canadian dollar buying rate rose just 9 cents to $90.15 with dealers buying C$3,026,782 and selling C$1,569,586, at an average rate that gained 12 cents to $90.87. The rate for buying the British Pound slipped 33 cents to $167.78 for the purchase of £1,383,469, while £340,974 was sold, at an average rate of $169.57, for a 47 cents fall. At the end of trading it took J$123.76 to purchase the Euro, 20 cents more than on Wednesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$121.25 for a rise of 13 cents on Wednesday’s rate. Other currencies bought, amounted to the equivalent of US$139,921 while the equivalent of US$95,765, was sold.
Highs & Lows| The highest buying rate for the US dollar, dropped $1.35 to $115.15. The lowest buying and the highest selling rates remained at $93.77 and $121.23 respectively, while the lowest selling rate fell 70 cents to $112.30. The highest buying rate for the Canadian dollar rose 10 cents to $91.20, the lowest buying rate rose by 83 cents to $72.21, but the highest selling rate was fell 18 cents to $93.66 while the lowest selling rate fell $1 to $87. The highest buying rate for the British Pound, rose 10 cents to $170.35, the lowest buying rate rose 33 cents to $136.45 but the highest selling rate fell $1.55 to $173.93 and the lowest selling rate declined by $1.60 to $164.40.
US$10M more sold off on Wednesday
Dealers sold a net of US$10 million on Wednesday following on the net sale of US$9 on Tuesday. Purchases of all currencies by dealers amounted to a haul of US$33,890,697 equivalent, compared with US$45,222,043, on Tuesday and selling of the equivalent of US$43,245,266 versus sale of US$54,550,791, on the previous trading day.
In US dollar trading, dealers bought US$27,646,745 compared to US$40,889,369 on Tuesday. The buying rate for the US dollar fell 7 cents to $114.42 and US$39,278,675 was sold versus US$51,941,632 on Tuesday, the selling rate remained at $115.04. The Canadian dollar buying rate rose 83 cents to $90.06 with dealers buying C$3,961,261 and selling C$3,412,312, at an average rate that gained 13 cents to $90.75. The rate for buying the British Pound slipped 25 cents to $168.11 for the purchase of £1,430,371, while £651,652 was sold, at an average rate of $170.04, for a 6 cents rise. At the end of trading it took J$123.56 to purchase the Euro, $1.01 less than on Tuesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$121.12 for a fall of $1.11 from Tuesday’s rate. Other currencies bought, amounted to the equivalent of US$1,024,612 while the equivalent of US$311,534, was sold.
Highs & Lows| The highest buying rate for the US dollar, climbed $1.20 to $116.50. The lowest buying rate fell 17 cents to $93.77, the highest selling rate moved up 80 cents to $121.23 and the lowest selling rate jumped with a $17.21 increase to $113. The highest buying rate for the Canadian dollar rose 10 cents to $91.10, the lowest buying rate declined by $1.41 to $71.38, but the highest selling rate was unchanged at $93.84 while the lowest selling rate rose $1.50 to $88. The highest buying rate for the British Pound, remained at $170.25, the lowest buying rate dropped 8 cents to $136.12 but highest rate fell $1.39 to $175.48 and the lowest selling rate increased by $1.90 to $166.
US$9M sold off on Tuesday
Dealers sold a net of US$9 million on Tuesday as seller continues to be more than buying for sometime. Purchases of all currencies by dealers amounted to a haul of US$45,222,043 equivalent, compared with US$62,127,595, on Monday and selling of the equivalent of US$54,550,791 versus a large sale of US$71,025,900, on the previous trading day.
In US dollar trading, dealers bought US$40,889,369 compared to US$57,302,053 on Monday. The buying rate for the US dollar fell 9 cents to $114.49 and US$51,941,632 was sold versus US$68,765,502 on Monday, the selling rate edged up 2 cents to end at $115.04. The Canadian dollar buying rate rose 15 cents to $89.23 with dealers buying C$2,100,599 and selling C$940,479, at an average rate that fell 13 cents to $90.62. The rate for buying the British Pound slipped 34 cents to $168.35 for the purchase of £1,740,601, while £731,391 was sold, at an average rate of $169.97, for a 4 cents rise. At the end of trading it took J$124.57 to purchase the Euro, 75 cents less than on Monday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$122.23 for a fall of 63 cents from Monday’s rate. Other currencies bought, amounted to the equivalent of US$136,032 while the equivalent of US$787,729, was sold.
Highs & Lows| The highest buying rate for the US dollar, remained at $115.30. The lowest buying rate jumped $4.86 to $93.94, the highest selling rate inched up 6 cents to $120.43 and the lowest selling rate dived 38 cents to $95.79. The highest buying rate for the Canadian dollar fell 50 cents to $91, the lowest buying rate climbed 33 cents to $72.79, but the highest selling rate declined 66 cents to $93.84 while the lowest selling rate rose 70 cents to $86.50. The highest buying rate for the British Pound, fell $2.80 to $170.25, the lowest buying rate dropped $1 to $136.20 but highest and the lowest selling rates remained unchanged at $176.87 and $164.10, respectively.
Another large sell off of US$
Dealers bought a net of US$10 million on Friday and sold a net of US$9 million on Monday. Purchases of all currencies by dealers amounted to a large haul of US$62,127,595 equivalent, compared with US$38,133,681, on Friday and selling of the equivalent of a large sum of US$71,025,900 versus only US$27,962,486 on the previous trading day.
In US dollar trading, dealers bought US$57,302,053 compared to US$35,965,168 on Friday. The buying rate for the US dollar rose 5 cents to $114.58 and US$68,765,502 was sold versus US$26,890,036 on Friday, the selling rate edged down 5 cents to end at $115.02. The Canadian dollar buying rate fell 80 cents to $89.08 with dealers buying C$1,302,237 and selling C$1,552,185, at an average rate that fell $1.10 to $90.75. The rate for buying the British Pound rose 6 cents to $168.69 for the purchase of £2,355,189, while £485,376 was sold, at an average rate of $169.93, for a fall of $1.06. At the end of trading it took J$125.32 to purchase the Euro, 35 cents less than on Friday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$122.86 for a fall of 30 cents from Friday’s rate. Other currencies bought, amounted to the equivalent of US$345,7611 while the equivalent of US$318,703, was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 25 cents to $115.30. The lowest buying rate dropped $4.86 to $89.08, the highest selling rate remained at $120.37 and the lowest selling rate dived $16.33 to $96.17. The highest buying rate for the Canadian dollar fell 25 cents to $91.50, the lowest buying rate remained at $72.46, but the highest selling rate declined 70 cents to $94.50 while the lowest selling rate fell $1.50 to $85.80. The highest buying rate for the British Pound, rose $2.05 to $173.05, the lowest buying rate remained unchanged at $137.20 but highest selling rate climbed $1.75 to $176.87, while the lowest selling rate dipped $1.20 to $164.10.
Another large sell off of US$
Dealers sold off a net of US$24 million on Thursday, with purchases of all currencies by dealers amounting to US$28,077,038 equivalent, compared with US$37,292,575, on Wednesday and selling of the equivalent of US$52,045,055 versus US$38,096,238 on the previous trading day.
Thursday’s sale is the second day for the week that dealers offloaded much more than they purchased, with net selling of $28.5 million on Tuesday.
In US dollar trading, dealers bought US$25,814,004 compared to US$35,114,776 on Wednesday. The buying rate for the US dollar slipped 10 cents to $114.51 and US$50,855,849 was sold versus US$36,632,413 on Wednesday, the selling rate edged up 1 cent to end at $115.11. The Canadian dollar buying rate rose 39 cents to $90.17 with dealers buying C$1,066,606 and selling C$586,764, at an average rate that fell 14 cents to $91.93. The rate for buying the British Pound declined 57 cents to $168.74 for the purchase of £878,391, while £380,175 was sold, at an average rate of $171.39, for an 81 cents increase. At the end of trading it took J$126.47 to purchase the Euro, 90 cents more than on Wednesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$124.04 for a rise of 87 cents on Wednesday’s rate. Other currencies bought, amounted to the equivalent of US$128,765 while the equivalent of US$154,544, was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 5 cents to $115.35. The lowest buying and the highest selling rates remained at $93.94 and $120.37 respectively and the lowest selling fell $1.85 to $93.94. The highest buying rate for the Canadian dollar dropped 50 cents to $92.70, the lowest buying rate remained at $72.46, but the highest selling rate rose 28 cents to $94.56 and the lowest selling rate climbed $2.10 to $89.40. The highest buying rate for the British Pound, gained 70 cents to $172, the lowest buying rate remained unchanged at $137.20 but highest selling rate climbed $1.73 to $176.87, while the lowest selling rate gained $1.40 to $166.70.
Buying & selling even on Wednesday
The buying and selling of foreign currencies in the system, were evenly matched purchases of all currencies by dealers amounting to US$37,292,575 equivalent, compared with US$38,377,465, on Tuesday and selling of the equivalent of US$38,096,238 versus US$66,929,309 on the previous trading day.
In US dollar trading, dealers bought US$35,114,776 compared to US$34,755,724 on Tuesday. The buying rate for the US dollar slipped 4 cents to $114.61 and US$36,632,413 was sold versus US$64,588,710 on Tuesday, the selling rate fell 3 cents to end at $115.10. The Canadian dollar buying rate rose 13 cents to $89.78 with dealers buying C$775,340 and selling C$542,317, at an average rate that climbed 18 cents to $92.07. The rate for buying the British Pound was unchanged at $169.31 for the purchase of £955,066, while £625,348 was sold, at an average rate of $170.58, for a fall of 5 cents. At the end of trading it took J$125.57 to purchase the Euro, 25 cents less than on Tuesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$123.17 for a fall of 23 cents off Tuesday’s rate. Other currencies bought, amounted to the equivalent of US$159,442 while the equivalent of US$103,256, was sold.
Highs & Lows| The highest buying rate for the US dollar, fell $1.40 to $115.40. The lowest buying and the highest selling rates remained at $93.94 and $120.37 respectively and the lowest selling rose $1.85 to $95.79. The highest buying rate for the Canadian dollar climbed $1.45 to $93.20, the lowest buying rate rose 83 cents to $72.46, but the highest selling rate fell 20 cents to $94.28 and the lowest selling rate remained at $87.30. The highest buying rate for the British Pound, the lowest buying and lowest selling rates were unchanged at $171.30, $137.20 and $165.30 respectively, while the highest selling rate fell $1.73 to $175.14.
US$28 million sell off on Tuesday
There continues to be net selling of foreign currencies in the system, with net sales on Tuesday, reaching the highest level in recent days, with net sales of US$28 million. Purchases of all currencies by dealers amounted to US$38,377,465 equivalent, compared with US$47,949,340, on Monday and selling of the equivalent of US$66,929,309 versus US$41,988,424 on the previous trading day.
In US dollar trading, dealers bought US$34,755,724 compared to US$43,517,411 on Monday. The buying rate for the US dollar was unchanged at $114.65 and US$64,588,710 was sold versus US$40,670,316 on Monday, the selling rate slipped 2 cents to end at $115.13. The Canadian dollar buying rate rose 4 cents to $89.65 with dealers buying C$1,046,278 and selling C$861,133, at an average rate that climbed 72 cents to $91.89. The rate for buying the British Pound rose 42 cents to $169.31 for the purchase of £1,764,250, while £974,090 was sold, at an average rate of $170.63, for a fall of 50 cents. At the end of trading it took J$125.82 to purchase the Euro, $1.48 more than on Monday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$123.40 for an increase of $1.43 over Monday’s rate. Other currencies bought, amounted to the equivalent of US$198,339 while the equivalent of US$209,741, was sold.
Highs & Lows| The highest buying rate for the US dollar, moved up $1.05 to $116.80. The lowest buying, highest selling and the lowest selling rates remained at $93.94, $120.37 and $93.94 respectively. The highest buying rate for the Canadian dollar dipped 5 cents to $91.75, the lowest buying rate rose 17 cents to $71.63, but the highest selling rate rose 33 cents to $94.48 and the lowest selling rate rose $1 to $87.30. The highest buying rate for the British Pound, fell 20 cents to $171.30. The lowest buying rate rose 46 cents to $137.20, the highest selling rate gained 59 cents to $176.87 and the lowest selling rate rose 55 cents to $165.30.
Remittances top $2.16b in 2014
Remittance inflows for 2014 exceeded the amount earned by Jamaica in 2013 by US$95 million or 4.6 percent, according to data released by Jamaica’s Central Bank.
The country saw total inflows of US$2.16 billion for the January to December period. The total flows are likely to be just under the $2.2 billion estimated inflows from the tourism sector for 2014.
Net remittances for 2014 were US$1.93 billion, representing a growth of US$102 million or 5.6 percent compared to 2013 and emanated from an increase in gross inflows and a reduction of outflows.
The increase in total remittance inflows reflected an increase of US$95 million in inflows through Remittance Companies. This increase was however partly offset by a decline of US$0.5 million in inflows from the Other Remittances sub-category.
J$ gains over US on Monday
The Jamaican dollar gained against the US dollar but lost value with Canadian and the British pound on Monday. Purchases of all currencies by dealers amounted to US$47,949,340 equivalent, compared with US$33,878,712, on Friday and selling of the equivalent of US$41,988,424 versus US$37,124,006 on the previous trading day.
In US dollar trading, dealers bought US$43,517,411 compared to US$31,453,510 on Friday. The buying rate for the US dollar fell 6 cents to $114.65 and US$40,670,316 was sold versus US$35,820,483 on Friday, the selling rate slipped 4 cents to end at $115.15. The Canadian dollar buying rate rose 88 cents to $89.61 with dealers buying C$1,846,965 and selling C$498,019, at an average rate that climbed 84 cents to $91.17. The rate for buying the British Pound rose 38 cents to $168.89 for the purchase of £1,850,261, while £518,411 was sold, at an average rate of $171.12, for an increase of 48 cents. At the end of trading it took J$124.34 to purchase the Euro, $1.88 more than on Friday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$121.97 for an increase of $1.88 over Friday’s rate. Other currencies bought, amounted to the equivalent of US$262,842 while the equivalent of US$153,421, was sold.
Highs & Lows| The highest buying rate for the US dollar, inched up 27 cents to end at 115.75, the lowest buying and highest selling rates remained at $93.94 and $120.37 respectively, while the lowest selling rate fell $2.23, to $93.94. The highest buying rate for the Canadian dollar rose 20 cents to $91.80, the lowest buying rate was unchanged at $71.46, but the highest selling rate rose $1.70 to $94.15 and the lowest selling rate rose 20 cents to $86.30. The highest buying rate for the British Pound, fell 5 cents to $171.50. The lowest buying rate rose 12 cents to $136.74, the highest selling rate gained $1.01 to $176.28 and the lowest selling rate rose $1.80 to $164.75.