Tuesday, 3rd September 2013 | US$34,553,830 was purchased by dealers as the buying rate rose by 34c to an average of $101.49 and dealers sold US$32,447,951 at $102.137, an increase of 3 cents, the Canadian was purchased at $95.289 up 42 cents for C$923,276 while C$874,494 was purchased at 78 cents higher than Monday’s rate to close at $97.632. The British Pound traded at $156.806, an increase of 84 cents as £1,352,743 was purchased and £853,085 was sold for $159.189, an increase of 21 cents.

The equivalent of US$37.85 million was purchased and $34.85 million sold bettering yesterday’s take.

Dealers purchased the US dollar as high as $102.90 at 10 cents higher than on Monday and the bought as low as $84.17 which was the same rate as Monday’s low. The US dollar was sold as high as $107.89, lower by 88 cents than the rate at the close of Monday and sold as low as $ 99.35 reflecting a $15.31 increase.

The Canadian dollar was bought as high as 97.35, off 5 cents and remained unchanged for the lowest buying rate at $78.27; the highest selling rate came in at $101.01 down by 64 cents and 10 cents was added to the lowest selling price, which closed at $94.40.

The Pound gained all round with the highest buying rate closing at $159.95, which is 65 cents more than on Monday and lowest buy rate climbed 79 cents to end at $129.23. The highest rate that sales took place at is $166.60 up $1.02 and the lowest rate came in at $154.45 up $1.55

Monday, 2nd September 2013 | Trading for the first day of the week and month of September was unusually low for a Monday, but the heavy trading on Friday when US$53.8 million was purchased and US$39.65 million was sold may have robbed the market of much activity as just US$23.27 million was purchased with US$28.4 million sold.

Authorised dealers purchased US$19,593,289 at a buying rate of $101.1463 down 50c from Friday’s closing rate and sold US$26,278,288 at an average of $102.109 up 3c at the end of the day. The buying rate for the Canadian dollar fell $1.24 to close at $94.8671 as C$1,009,449 was purchased and sold C$515,019 at an average of $96.8504 down 97c. £1,562,581 was purchased at an average of $155.9639 representing a decline of $1.61 for the day and sale of £776,054 took place at an average of $158.981 up 44c.

There was much variation in the highest and lowest buying and selling rates amongst the three main currencies. The highest buy rate for the US dollar fell by 5c to end at $102.80, while the lowest was up 13c at $84.17 and selling was as high as $108.77 up 91c, while the lowest fell 13c to $84.04.

In the case of the Canadian dollar, the buy rate at its highest dropped $1.10 to $97.40 and the lowest fell 33c to $78.27 while selling took place as high as $101.65 with no change at the end and the lowest slipped 15cto $94.30.

The British Pound traded as high as $159.30 buying with the rate increasing by 30c, the lowest increased by $28.44 to end at $128.44 while the highest selling rate moved up by $4.58 to $165.58, and the lowest increased by 75c to close at $152.90.

Image courtesy of Marcus/FreeDigitalPhotos.net

Friday, 30 August 2013 | Trading in the forex market closed out August on a positive note as the last trading day of the week and month looked more like a Monday than a Friday. Authorised dealers bought the equivalent of US$53,792,009 and sold the equivalent of only US$39,649,381 for a significant difference of US$14 million.

September is usually a month of low inflows, so it will be interesting to see how things pan out. The central bank over the last four months have tried to flush out funds from the financial sectors with some amount of success but at a higher exchange and interest rates. The next few months should see capital inflows coming into the country as the Chinese are set to commence the road construction on the north south leg of the highway and this is likely to bring in inflows which could augment supplies. It’s a development worth watching.

Purchasing the US dollar amounted to US$46,082,798 at an average of $101.65, an increase of 18 cents over Thursday’s rate and US$34,753,701 was sold at US$102.08 for an increase of 35 cents for the day.

The Canadian dollar was bought for 97 cents more at $96.11 as C$1,581,241 was purchased and C$1,804,339 was sold at $97.82 an increase of 35 cents over the rate on Thursday. The British Pound purchases amounted to £3,890,382 at $157.57, increasing by $1.89 as only £1,881,887 was sold at 37 cents more than Thursday’s rate and ended at $158.54.

The highest rates for buying the currencies on Friday are US dollar 10 cents higher at $102.85, Canadian 80 cents more at $98.50 and 15 cents down for the British Pound at $159. The lowest rates for buying were US dollar, no change at $84.04; Canadian 12 cents more at $78.60 and a big drop of $28.65 for the British Pound at $100.

The highest rates for selling the currencies are US dollar 16 cents higher at $107.86; Canadian 48 cents more at $101.65 and $4.85 down for the British Pound at $161. The lowest selling rates were US dollar, $15.63 down at $84.17; Canadian 25 cents less at $94.45 and a big drop of $2.85 for the British Pound at $152.15.

Thursday, 29 August 2013 | Foreign exchange rates remained fairly stable on Thursday but there were noticeable swings in the Pound Sterling spot rates which fell.

The US dollar was purchased as high as $102.75 on Thursday the same as it was on Wednesday even as the average buying rate increased by 9 cents to $101.47 as US$27.35 million was purchased by dealers. Unlike Wednesday when there was an increase of 15 cents paid for the lowest rate of $84.04, the rate for selling at the high and low remained unchanged closing at $107.70 for the highest and $99.80 for the lowest. Selling took place for US$24.36 million at $102.10 at 10 cents more.

The buying rate for the Canadian dollar by 96c to $95.14 as C$641,000 was purchased and the average selling rate was down 18 cents to $97.47 for C$464,252. The Pound sterling buying rate dropped by $2.67 to $155.68 as £873,540 was purchased and £537,543 was sold at an average rate of $158.91, a fall of $1.17.

Overall the equivalents of US$29.4 million was purchased on Thursday an increase over Wednesday trade and selling amounted to $26.2 million a slight reduction form the day before.

The highest buying rate for the Canadian dollar was down by $1.10 to $97.70 and the lowest was 4 cents greater to end at $78.48; the highest selling rate was $1.37 higher at $101.17 and the lowest was off 15 cents to $94.70. The Pound Sterling highest buying rate dropped by $1.85 to $159.15 and the lowest buying rate amounted to $128.65 the same as the prior day. Dealers sold the Pound as high as $165.85, a sharp $4.85 increase yet only increased the lowest rate by a $1 to $155.\

Wednesday, 28 August 2013 |  There was buying of US$22,999,147 by authorised dealers at an average rate $101.38,which is down 5c from the prior day. US$23,330,434 sold with the selling rate down 5c to $102.04, The buying rate for the Canadian dollar was up 59c to $96.10 as C$1,258,194 was purchased and the average selling rate was up 9c to $97.65 for C$1,075,380. The Pound sterling buying rate rose by $2.03 to $158.35 as £1,681,727 was purchased and £1,444,075 was sold at an average rate of $160.08 an increase of $1.89.

Overall the equivalents of US$27 million was purchased on Wednesday and selling amounted to $26.94 million.

The US dollar was purchased as high as $102.75 an increase of 15 cents and as low as $84.04 the same rate as on Tuesday, while selling took place as high as $107.70 with no change for the day and as low as $99.80 an increase of $15.76.

The highest buying rate for the Canadian dollar was down by 70 cents to $98.80 and the lowest was the same as the previous day at $78.44. The highest selling rate was $1.32 less at $99.80 and the lowest was up  60 cents to $94.85. For the Pound, the highest buying rate climbed $1.50 to $161 and the lowest buying rate amounted to $128.65, a small decline of 8 cents as dealers sold the Pound as high as $161, a sharp $5.49 reduction but only cut the lowest rate by 15 cents to $154.

Tuesday, 27th August 2013 |The total foreign exchange purchased by authorised dealers amounted the equivalent of US32,639,090 with the equivalent of US35,446,396 sold. The average selling rate for the main currency traded, the US dollar, remained unchanged at the end of the day while the average buying rate just barely move by a cent.

The buying rate for the US dollar ended at $101.4299 up 1c as US$28,592,452 was bought by authorised dealers and the selling rate remained unchanged at $102.092 as US$32,461,468 was sold.

Buying of the Canadian dollar took place at $95.5065 up 66c, with C$890,410 being purchased and the selling rate was up by 27c to $97.5648 as C$639,956 was sold.

The buying rate for the British Pound was down by $1.39 to $156.3239 as £1,311,301, selling amounted to £670,839 as the rate went down 58c to $158.189.

The highest buying rate for the US dollar fell by 5 cents 102.60, lowest buying rate remain unchanged at $84.04. The highest selling rate remained unchanged at $107.70 while the lowest selling rate settled at 84.04 down by 12 cents.

The highest buying rate for the Canadian dollar increased by $1.81 to $99.50, the lowest buying rate increased by 42 cents to $78.44. The highest selling rate ended at $101.12, a decline of 5 cents and the lowest fell by 25 cents to $94.25.

The highest buying rate for the British pound declined by 25 cents to $159.50, while the lowest buying rate ended unchanged at $128.73. The highest selling rate ended at $166.49 down 6 cents and the lowest moved up $1.20 to $154.15.

Monday, 26th August 2013 | Trading in the forex market was at a high level on Monday as othe equivalent of US$43.2 million was purchased by dealers and US$46.75 was sold,. This is in contrast last week Monday when the equivalent of US$39.9 million was purchased by dealers and US$47.65 was sold. The Monday level of trading has been pretty consistent since the end of July with buying  in the $40 million to $50 million range.

Rates for buying and selling the US dollar climbed moderately with the buying rate moving up by 10 cents to reach $101.43 as dealers bought US$37.97 million and sold US$44.58 million at $102.09, an increase of 8 cents over Friday’s closing rate. It cost dealers 5 cents less to buy the US dollar at the highest rate of $102.65, but 12 cents more for the lowest rate, which ended at $84.04 and 16 cells more in selling at the highest level of $107.70. There was no price change in the lowest selling rate of $83.92.

The Canadian dollar shed 70 cents for the buying rate which closed at $97.69 as the market accounted for C$1.1 million and sold C$814,343 at $97.29 which is 4 cents up on Friday’s rate. The highest and lowest rates for the Canadian dollar all declined quite sharply. The highest buying rate fell $3.51 to S97.69, the lowest buying rate fell by $1.04 to $78.02 while the highest selling rate declined by 80 cents to $101.17 and the lowest was down by $1 to $94.

The Pound gained $1.31 to close at $157.71 as £2.54 million was purchased and just £674,840 was sold at an average rate of $158.77 or 94 cents less than the opening rate. The Pound was purchased as high as $159.75, a drop of 5 cents and the lowest rate at $1.04 lower at $128.73 than the opening rate. Selling took place as high as $166.55 or 80 cents lower than the opening, while the lowest rate increased by $1.35 to $152.95.

Thursday, 22 August 2013 | Only the US dollar buying rate moved up in today’s Forex market as all others declined. Traders bought US$24.6 at $101.33 up 2 cents and sold $22.1 million at $102.01 down 3 cents from Wednesday’s rate. C$663,000 was bought for $1.40 less at the end of trading than at the end of Wednesday as the buying rate slipped to $95.54 and selling amounted to CS$552,000 at $1.40 less at $967.25. The Pound was bought for $2.10 less at $156.40 for £902,000 while selling took place at $159.71 for £1.16 million at 38 cents less than on Wednesday. Overall, the equivalent of $26.88 million was purchased and US$24.66 million sold.

Buying took place as high as $102.70, a decrease of only 5 cents and selling as low as $83.92, down $15.68 for the US dollar. The lowest buying and highest selling rates remained unchanged at the end of trading. The Canadian dollar had to be bought as high as $101.20, which is $3.10 more than Wednesday but the lowest rate paid by dealers was 42 cents less at $78.85. The highest selling rate remained unchanged and 80 cents was taken off the lowest selling rate, which closed out the day at $95.

The Pound was purchased at 75 cents less at $159.80 at the highest level but the lowest buying rate stood 70 cents more than on Wednesday at $129.77. Selling was as high as $4.56 more at $167.35 and as low as $3.70 less at $151.60.

The IMF staff signed off on the country’s economic targets clearing the way for a draw-down of funds under the agreement with the fund. The amount to be paid is not large (US$30 million) and it is not due until September. However, the physiological impact on investors and the effect it could have on the forex market should not be ignored.

Tuesday, 20th August 2013 | Trading on the forex market resulted in fairly stable rates on Tuesday for buying and selling the three main foreign currencies. Trading in US dollars brought in $27 million at 7 cents more on average as the rate settled at $101.29 and $26.7 million selling at a cent more than Monday’s average rate as it closed at $101.94. The change in trading the Canadian dollar was somewhat different from the US dollar as it took 10 cents on average to purchase the Canadian at $96.41 as purchases amounted to $756,000 and sales took place at 36 cents less than Monday’s average rate for $563,000 at the average rate of $98.26. The pound fell on both the buying and selling rates as it cost dealers 6 cents less at $157.09 in buying £1.26 million while the selling of £716,000 took place at 27 cents more at $159.46.

Overall the equivalent of $30 million were purchased and $28.66 million were sold.

There was no change in the lowest selling rates for the Canadian dollar and Pound and none in the highest selling rate for the US dollar. The highest buying rate for the US dollar was off 5 cents to $102.45 and the low price was $83.92 but the lowest selling rate was at $98 down $1.50. In the case of the Canadian, it took 25 cents more in buying the currency at the highest rate which ended up at $98.95 and 11 cents less for the highest selling rate of $102.40 but $3.25 more for the lowest selling rate of $95.70. For the Pound all 3 rates declined with the highest buying moving down by 80 cents to $159.90, the highest selling was down $3.65 at $162.73 and the lowest at $154, off 35 cents.