In Tuesday’s forex trading, authorized dealers purchased more foreign currency than they sold, in contrast to Monday when they sold more than the amount bought. Dealers bought the equivalent of US$39,158,938 versus US$42,854,290 on Monday, and sold the equivalent of US$36,807,071 compared with US$44,672,575 on Monday.
In US dollar trading, dealers bought US$34,532,237 compared to US$37,012,175 on Monday. The buying rate for the US dollar rose 9 cents to $112.37 and US$32,534,928 was sold versus US$41,385,912 on Monday, the selling rate was unchanged at $112.73.
The Canadian dollar buying rate fell 12 to $100.74 with dealers buying C$875,601 and selling C$682,991 at an average selling rate that dipped 64 cents to $102.26.
The rate for theBritish Pound dived $1.64 to $180.17, for the purchase of £1,981,421, while £1,574,895 was sold, as the rate declined by 80 cents to $181.47. Other currencies bought, amounted to the equivalent of US$664,854, while selling was for the equivalent of US$1,117,348.
Highs & Lows| The highest buying rate for the US dollar, rose 16 cents to $113.10 and lowest buying rate remained unchanged at $91.85. The highest selling rate rose $3 to $117.70 and the lowest selling was unchanged at $91.85. The highest buying rate for the Canadian dollar remained at $103.50, the lowest buying rate declined 25 cents to $81.84, the highest selling rate rose 11 cents to $106.20 and the lowest selling rate gained $16.43 to $98.60. The highest buying rate for the British Pound, climbed $1.19 to $187.50, the lowest buying rate gained $5.25 to $145.75. The highest selling rate increased by $1.21 to $189.71 and the lowest selling rate dropped $24.55 to $154.25.
Buoyant flows keep Jamaican$ stable
Jamaican$ gains against all
In Monday’s forex trading, authorized dealers purchased less foreign currency than they sold. Dealers bought the equivalent of US$42,854,290 versus US$39,277,073 on Friday, and sold the equivalent of US$44,672,575 compared with US$36,643,681 on Friday.
In US dollar trading, dealers bought US$37,012,175 compared to US$34,634,771 on Friday. The buying rate for the US dollar fell 10 cents to $112.28 and US$41,385,912 was sold versus US$33,089,971 on Friday, the selling rate fell 2 cent to $112.72.The Canadian dollar buying rate fell $1.25 to $100.87 with dealers buying C$1,046,096 and selling C$482,077 at an average selling rate that dropped $1.50 to $102.89.The rate for theBritish Pound dived 82 cents to $181.81, for the purchase of £2,339,820, while £1,104,450 was sold, as the rate declined by $1.58 to $182.27. Other currencies bought, amounted to the equivalent of US$1,113,672, while selling was for the equivalent of US$1,060,760.
Highs & Lows| The highest buying rate for the US dollar, fell 16 cents to $112.94 and lowest buying rate remained unchanged at $91.85. The highest selling rate rose 70 cents to $114.70 and the lowest selling rate dropped $17.99 to $91.85. The highest buying rate for the Canadian dollar fell 40 cents to $103.50, the lowest buying rate declined 29 cents to $82.09, the highest selling rate rose 36 cents to $106.09 and the lowest selling rate declined $17.08 to $82.17. The highest buying rate for the British Pound, climbed $1.31 to $186.31, the lowest buying rate declined $7.61 to $140.50. The highest selling rate fell 14 cents to $188.50 and the lowest selling rate inched up 35 cents to $178.80.
NIR slips with IMF pay back
Bank of Jamaica paid back US$83.75 million to the International Monetary Fund (IMF) during August, helping to reduce the Net International Reserves (NIR) from US$2.18 billion down to US$2.12 billion at the end of August.
Estimated Official Gross Reserves represent 26.68 weeks of Goods Imports at the end of August down from 28.12 weeks in July and 19.17 weeks of Goods and Servics Imports, a decline form 20.21 weeks in July.
The reserves place the central bank in a good position to intervene in the Foreign exchange market, during the rest of the year if they so desire. Importantly, it gives them the physiological advantage, to keep speculators guessing as to their next move, now that the rate of the Jamaican dollar has been holding steady, against the US dollar, since they made a major intervention into the market, on July 10.
The months of high demand and low supply is here, with the commencement of September, and should end by Mid December. Whatever, the level of intervention is, it should be relatively small, ahead of the winters months, when supply tends to be greater than demand.
Jamaican $ gains against pound & US$
In Friday’s forex trading, authorized dealers purchased more foreign currency than they sold. Dealers bought the equivalent of US$39,277,073 versus US$32,479,891 on Thursday, and sold the equivalent of US$36,643,681 compared with US$37,797,115 on Thursday.
In US dollar trading, dealers bought US$34,634,771 compared to US$27,452,497 on Thursday. The buying rate for the US dollar rose 12 cents to $112.38 and US$33,089,971 was sold versus US$33,759,732 on Thursday, the selling rate fell 1 cent to $112.75.
The Canadian dollar buying rate fell 52 cents to $102.12 with dealers buying C$1,153,204 and selling C$1,120,704 at an average selling rate that gained 82 cents to $104.39.
The rate for theBritish Pound dived $1.63 to $182.63, for the purchase of £1,662,228, while £802,746 was sold, as the rate declined by $1.44 to $183.85. Other currencies bought, amounted to the equivalent of US$893,093, while selling was for the equivalent of US$1,207,087.
Highs & Lows| The highest buying rate for the US dollar, fell 10 cents to $113.10 and lowest buying rate remained unchanged at $91.85. The highest selling rate dropped $3.70 to $114 and the lowest selling rate fell 66 cents to $109.84. The highest buying rate for the Canadian dollar rose 5 cents to $103.90, the lowest buying rate rose 71 cents to $82.38, the highest selling rate declined 29 cents to $105.73 and the lowest selling rate rose 85 cents t0 $99.25. The highest buying rate for the British Pound, fell 74 cents to $185, the lowest buying rate declined 38 cents $148.11. The highest selling rate fell $2.78 to $188.64 and the lowest selling rate declined by 45 cents to $178.45.
More outflows but rates holding
In Wednesday’s forex trading, authorized dealers sold more foreign currency than they purchased. Dealers bought the equivalent of US$33,226,788 versus US$49,952,055 on Tuesday, and sold the equivalent of US$42,349,863 compared with US$54,895,404 on Tuesday.
In US dollar trading, dealers bought US$27,754,091 compared to US$44,900,566 on Tuesday. The buying rate for the US dollar rose 4 cents to $112.40 and US$37,453,095 was sold versus US$51,519,466 on Tuesday, the selling rate gained 4 cents to $112.75.
The Canadian dollar buying rate dropped 2 cents to $101.03 with dealers buying C$788,145 and selling C$900,497 at an average selling rate that gained 22 cents to $103.43.
The rate for theBritish Pound declined 59 cents to $184.03, for the purchase of £2,047,338, while £1,347,894 was sold, as the rate fell $1.35 to $185.50. Other currencies bought, amounted to the equivalent of US$1,412,171, while selling was the equivalent of US$1,853,249.
Highs & Lows| The highest and lowest rates for the US dollar, remained unchanged at $113.10, $91.85 and $117.70 respectively, except for the lowest selling rate that rose 72 cents to $94.02. The highest buying rate for the Canadian dollar rose 70 cents to $104, the lowest buying rate fell 50 cents to $81.67, the highest selling rate dipped 63 cents to $105.54 and the lowest selling rate dropped 60 cents to $98.40. The highest buying rate for the British Pound, fell 40 cents to $186.70, the lowest buying rate declined 71 cents $148.86. The highest selling rate fell $3.75 to $189.49 and the lowest selling rate declined by $1.25 to $179.35.
JS gains against all 3 major currencies
In Tuesday’s forex trading, authorized dealers traded much more foreign currency than they did on Monday. Monday was a poor day, based on historical trading patterns. Dealers bought the equivalent of US$49,952,055 versus US$26,489,205 on Monday, and sold the equivalent of US$54,895,404 compared with US$30,449,196 on Monday.
In US dollar trading, dealers bought US$44,900,566 compared to US$21,045,823 on Monday. The buying rate for the US dollar rose 32 cents to $112.36 and US$51,519,466 was sold versus US$27,061,841 on Monday, the selling rate fell 7 cents to $112.71.The Canadian dollar buying rate dropped $1.02 to $101.05 with dealers buying C$961,890 and selling C$1,244,613 at an average selling rate that declined 23 cents to $103.20.
The rate for theBritish Pound rose 45 cents to $184.63, for the purchase of £1,829,567, while £583,481 was sold, as the rate fell 32 cents to $186.85. Other currencies bought, amounted to the equivalent of US$1,180,174, while selling was the equivalent of US$1,269,053.
Highs & Lows| The highest buying rate for the US dollar, rose 20 cents to $113.10, the lowest buying, the highest and lowest selling rates remained unchanged at $91.85, $117.70 and $93.30 respectively. The highest buying rate for the Canadian dollar fell $1.70 to $103.30, the lowest buying rate was unchanged at $82.17, the highest selling rate rose 13 cents to $106.17 and the lowest selling rate was unchanged at $99. The highest buying rate for the British Pound, fell 20 cents to $187.10, the lowest buying rate and lowest selling rate were unchanged at $149.57 and $180.60 respectively. The highest selling rate rose 43 cents to $193.24.
Market greets September with low volumes
In Monday’s forex trading, authorized dealers traded much less foreign currency than is the norm on the first business day of the week. Dealers bought the equivalent of US$26,489,205 versus US$59,234,779 on Friday, and sold the equivalent of US$30,449,196 compared with US$51,274,373 on Friday.
In US dollar trading, dealers bought US$21,045,823 compared to US$52,907,403 on Friday. The buying rate for the US dollar declined 42 cents to $112.04. US$27,061,841 was sold versus US$46,929,455 on Friday, the selling rate increased 5 cents to $112.78. The Canadian dollar buying rate climbed 32 cents to $102.07 with dealers buying C$2,579,417 and selling C$1,663,274 at an average selling rate that declined 31 cents to $103.43.The rate for theBritish Pound fell by $1.46 to $184.18, for the purchase of £1,256,900, while £701,884 was sold, as the rate rose 60 cents to $187.17. Other currencies bought, amounted to the equivalent of US$1,027,381, while selling was the equivalent of US$697,139.
Highs & Lows| The highest buying rate for the US dollar, the lowest buying, the highest selling and lowest selling rates remained unchanged at $112.90, $91.85, $117.70 and $91.85 respectively. The highest buying rate for the Canadian dollar was unchanged at $105, the lowest buying rate gained 21 cents to $82.17, the highest selling rate rose 3 cents to $106.04 and the lowest selling rate was unchanged at $99. The highest buying rate for the British Pound, rose 10 cents to $187.30, the lowest buying rate and lowest selling rate were unchanged at $149.57 and $180.20 respectively. The highest selling rate rallied $2.07 to $192.81.
More buying than selling on Friday as J$ gains
In Friday’s forex trading, authorized dealers sold less foreign currency than they bought, with excess of US8 million bought on the last day of the week. Dealers also bought more funds during the entire week, than they sold. A total of the equivalent of US$59,234,779 was purchased, versus US$28,770,917 on Thursday, and dealers sold the equivalent of US$51,274,373 compared to US$28,745,973 on Thursday.
In US dollar trading, dealers bought US$52,907,403 compared to US$23,454,602 on Thursday. The buying rate for the US dollar rose 15 cents to $112.46. US$46,929,455 was sold versus US$25,367,229 on Thursday, the selling rate declined 4 cents to $112.74.
The Canadian dollar dollar buying rate declined 65 cents to $101.75 with dealers buying C$1,016,453 and selling C$808,689 at an average selling rate that climbed 34 cents to $103.75.
The rate for theBritish Pound rose by 13 cents to $185.64, for the purchase of £3,043,130, while £1,947,414, was sold, as the rate fell $1.10 to $186.57. 
Other currencies bought, amounted to the equivalent of US$384,582, while selling was the equivalent of US$377,906.
Highs & Lows| The highest buying rate for the US dollar, fell 5 cents to $112.90, the lowest buying and the highest selling rates remained unchanged at $91.85 and $117.70 respectively while the lowest selling rate fell $18.15 to $91.85. The highest buying rate for the Canadian dollar dipped 49 cents to $105, the lowest buying rate gained 50 cents to $81.96, the highest selling rate rose 9 cents to $106.01 and the lowest selling rate is up 25 cents to $99. The highest buying rate for the British Pound, rose 20 cents to $187.20, the lowest buying rate and lowest selling rate were unchanged at $149.57 and $180.20 respectively. The highest selling rate fell $2.07 to $190.74.
Buying & selling even on Thursday
In Thursday’s forex trading, authorized dealers sold almost the same amount as they bought, the equivalent of US$28,770,917 was purchased versus US$32,730,124 on Wednesday, and they sold the equivalent of US$28,745,973 compared to US$37,322,163 on Wednesday.
In US dollar trading, dealers bought US$23,454,602 compared to US$27,146,842 on Wednesday. The buying rate for the US dollar was flat at $112.31. US$25,367,229 was sold versus US$33,461,453 on Wednesday, the selling rate declined 2 cents to $112.78.
The Canadian dollar dollar buying rate climbed 13 cents to $102.40 with dealers buying C$1,754,182 and selling C$1,141,386 at an average selling rate that climbed 13 cents to $103.41.
The rate for theBritish Pound rose by 22 cents to $185.51, for the purchase of £1,864,906, while £858,271, was sold, as the rate moved up $1.10 to $187.67. Other currencies bought, amounted to the equivalent of US$636,690, while selling was the equivalent of US$903,985.
Highs & Lows| The highest buying rate for the US dollar, fell 15 cents to $112.95, the lowest buying, the highest and the lowest selling rates remained unchanged at $91.85, $117.70 and $110 respectively. The highest buying rate for the Canadian dollar rose $2.09 to $105.49, the lowest buying rate gained 8 cents to $81.46, the highest selling rate rose 43 cents to $105.92 and the lowest selling rate is up 60 cents to $98.75. The highest buying rate for the British Pound, the lowest buying rate and lowest selling rate were unchanged at $187, $149.57 and $180.20 respectively. The highest selling rate increased $2.28 to $192.81.
US$5m more sold than bought on Wednesday
In Wednesday’s forex trading, authorized dealers sold US$5 million more than they bought as the equivalent of US$32,730,124 was purchased versus US$31,090,279 on Tuesday, and they sold the equivalent of US$37,322,163 compared to US$41,009,924 on Tuesday.
In US dollar trading, dealers bought US$27,146,842 compared to US$26,611,423 on Tuesday. The buying rate for the US dollar fell 2 cents to $112.31. US$33,461,453 was sold versus US$37,907,050 on Tuesday, the selling rate rose by 3 cents to $112.80.
The Canadian dollar dollar buying rate climbed 68 cents to $102.27 with dealers buying C$1,884,310 and selling C$1,480,642 at an average selling rate that climbed 86 cents to $103.28.
The rate for theBritish Pound rose by 27 cents to $185.29, for the purchase of £1,774,163, while £932,052, was sold, as the rate inched down 1 cent to $186.57. Other currencies bought, amounted to the equivalent of US$940,634, while selling was the equivalent of US$963,427.
Highs & Lows| The highest buying rate for the US dollar, the lowest buying and the highest selling rates remained unchanged at $113.10, $91.85 and $117.70 respectively, the lowest selling rate for the US dollar jumped $18.15 to $110. The highest buying rate for the Canadian dollar fell 60 cents to $103.40, the lowest buying rate remained unchanged at $81.38, the highest selling rate rose 58 cents to $105.49 and the lowest selling rate edged up 10 cents to $98.15. The highest buying rate for the British Pound was up by 10 cents to $187, the lowest buying rate was unchanged at $149.57. The highest selling rate declined $2.50 $190.53 and lowest selling rate was unchanged at $180.20.
