In Tuesday’s forex trading, buying and selling volumes were more closely matched with funds bought by dealers being slightly above the amounts sold. Dealers bought just over US$13 million in all currencies than they sold.
On Tuesday, dealers bought the equivalent of $25,710,419 versus US$47,763,088 on Monday and sold the equivalent of US$24,985,551 compared to US$34,622,132 on Monday.
In US dollar trading, dealers bought US$23,198,261compared to US$42,021,074 on Monday as the buying rate for the US dollar, slipped 6 cents to $112.08 and sold US$22,007,235 versus US$31,275,581 on Monday, as the rate eased 7 cents to $112.63.
The Canadian dollar buying rate rose 13 cents, to $102.93 with dealers buying C$852,194 and selling C$750,104 as the rate fell 9 cents, to $105.21.
The Pound closed at $189.29, for the purchase of £962,129 down 93 cents, while only £896,565 was sold, with the rate climbing by 40 cents, to $192.68. Other currencies bought, amounted to the equivalent of US$104,562 while selling was the equivalent of US$992,469.
Highs & Lows| All the highs and lows at the end of trading that moved declined. The highest rate for buying the US dollar, closed with a loss of 10 cents at $113.10, the lowest buying rate and the highest selling rate remained unchanged at $91.85 and $117.70 respectively, while the lowest selling rate dropped back by 16 cents cents to $91.85.
The highest buying rate for the Canadian dollar declined by 30 cents, to $105.05 and the lowest buying rate and the highest selling rate and the lowest selling rate were unchanged at $83.21, $107.21 and $100.25 respectively.The highest buying rate for the British Pound, fell 30 cents to $193.30, while the lowest buying and selling rates were unchanged at $153.88 and $185.40 respectively, the highest selling rate fell $3.36 to $195.66.
Jamaican dollar gains versus US & Canadian
US$13M more bought than sold as J$ improves
In Monday’s forex trading, dealers bought just over US$13 million in all currencies than they sold. The amount of the US currency purchased, exceeded the amount sold by nearly $11 million as the Jamaican currency improved in value by the end of trading.
On Monday, dealers bought the equivalent of $47,763,088 versus US$31,703,986 on Friday and sold the equivalent of US$34,622,132 compared to US$30,989,839 on Friday.
In US dollar trading, dealers bought US$42,021,074 compared to US$26,056,055 on Friday as the buying rate for the US dollar, rose 5 cents to $112.14 and sold US$31,275,581 versus US$24,483,036 on Friday, as the rate eased 2 cents to $112.70.
The Canadian dollar buying rate fell $1.60, to $102.80 with dealers buying C$1,640,272 and selling C$1,119,962 as the rate fell 77 cents, to $105.30.
The Pound closed at $190.22, for the purchase of £2,001,074, down 16 cents, while only £896,565 was sold, with the rate shedding by 25 cents, to $192.28. Other currencies bought, amounted to the equivalent of US$843,908 while selling was the equivalent of US$770,527.
Highs & Lows| The highest rate for buying the US dollar, the lowest buying rate and the highest selling rate remained unchanged at $113.20, $91.85 and $117.70 respectively, while the lowest selling rate dropped back by $17.99 cents to $92.01.
The highest buying rate for the Canadian dollar declined by 15 cents, to $105.35 and the lowest buying rate was up 4 cents to $83.21, the highest selling rate was unchanged at $107.21 and the lowest was up 5 cents to $100.25. The highest buying rate for the British Pound, climbed 40 cents to $193.60, while the lowest buying rate fell by 50 cents to $153.88 and the highest selling rate rose $3.04 to $199.02, the lowest selling rate was down by 60 cents to $185.40.
J$ slips vs US dollar up on Pound
In Friday’s forex trading, the Jamaican currency was mixed against the major currencies that Jamaica trades in, with the Jamaica dollar slipping to $112.72 for selling of the US dollar by authorized dealers, compared with $112.60 the previous day.
On Friday, dealers bought the equivalent of $31,703,986 versus US$22,112,178 on Thursday and sold the equivalent of US$30,989,839 compared to US$28,577,278 sold on Thursday.
In US dollar trading, dealers bought US$26,056,055 compared to US$17,385,127 on Thursday as the buying rate for the US dollar, rose 16 cents to $112.09 and sold US$24,483,036 versus US$21,394,673 on Thursday, as the rate increased 12 cents to $112.72.
The Canadian dollar buying rate fell 11 cents, to $104.39 with dealers buying C$2,592,931 and selling C$4,951,842 as the rate fell a cent, to $106.07.
The Pound closed at $190.38, for the purchase of £1,441,619, up 6 cents, while only £746,122 was sold, with the rate shedding by 97 cents, to $192.53. Other currencies bought, amounted to the equivalent of US$784,739 while selling was the equivalent of US$572,575.
Highs & Lows| The highest rate for buying the US dollar and the lowest buying rate remained unchanged at $113.20 and $91.85 respectively and the highest selling rate fell 21 cents t0 $117.70, while the lowest selling rate jumped by $17.99 cents to $110.
The highest buying rate for the Canadian dollar declined by 10 cents, to $105.50 and the lowest buying rate was up 17 cents to $83.17, the highest selling rate rose 21 cents to $107.21 and the lowest was up 20 cents to $100.20.
The highest buying rate for the British Pound, climbed 20 cents to $193.20, while the lowest buying fell by 29 cents to $154.38 and the highest selling rate dropped $3.41 to $195.98, the lowest selling rate was down by $2.20 to $186.
Mixed results for J$ on Thursday
In Thursday’s forex trading, the Jamaican currency was mixed against the major currencies that Jamaica trades in.
On Thursday, dealers bought the equivalent of $22,112,178 versus US$29,964,712 on Wednesday and sold the equivalent of US$28,577,278 compared to US$26,521,292 sold on Wednesday.
In US dollar trading, dealers bought US$17,385,127 compared to US$25,992,810 on Wednesday as the buying rate for the US dollar, fell 10 cents to $111.93 and sold US$21,394,673 versus US$24,271,674 on Wednesday, as the rate dropped 4 cents to $112.60.
The Canadian dollar buying rate climbed 94 cents, to $104.50 with dealers buying C$2,204,267 and selling C$4,588,102 as the rate rose 93 cents, to $106.08.
The Pound closed at $190.32, for the purchase of £1,013,558, at 75 cents lower, while £1,115,039 was sold, with the rate rising by 46 cents, to $193.50. Other currencies bought, amounted to the equivalent of US$945,676 while selling was the equivalent of US$944,228.
Highs & Lows| The highest rate for buying the US dollar was down 80 cents to $113.20, the lowest buying rate fell 17 cents to $91.85 and the highest selling rate remained unchanged at $117.91, while the lowest selling rate eased by $18.09 cents to $92.01.
The highest buying rate for the Canadian dollar declined by 40 cents, to $105.60 and the lowest buying rate was down 42 cents to $83, the highest selling rate fell 48 cents to $107 and the lowest lost 50 cents to $100.
The highest buying rate for the British Pound, slipped 60 cents to $193, while the lowest buying increased by 29 cents to $154.67 and the highest selling rate gained $2.46 to $199.39, the lowest selling rate was up by $1.70 to $188.20.
J$ gives up some ground on Wednesday
In Wednesday’s trading the Jamaican currency slipped against all three major currencies that Jamaica trades in. On Wednesday, dealers bought the equivalent of $29,964,712 versus US$29,935,750 on Tuesday and sold the equivalent of US$26,521,292 compared to US$29,376,851 sold on Tuesday.
In US dollar trading, dealers bought US$25,992,810 compared to US$26,382,733 on Tuesday as the buying rate for the US dollar, fell 13 cents to $112.03 and sold US$24,271,674 versus US$26,303,408 on Tuesday, with the rate rising 7 cents to $112.64. The Canadian dollar buying rate climbed $1.03, to $103.57 with dealers buying C$835,190 and selling C$673,642 as the rate rose 30 cents, to $105.14.
The Pound closed at $191.07, for the purchase of £1,827,067, the rate rose 59 cents, while £771,646 was sold, with the rate rising by 20 cents, to $193.04. Other currencies bought, amounted to the equivalent of US$83,624 while selling was the equivalent of US$298,430.
Highs & Lows| The highest rate for buying the US dollar was up 90 cents to $114, the lowest buying and the highest selling rates remained unchanged at $92.02 and $117.91 respectively, the lowest selling rate jumped $18.09 cents to $110.10. The highest buying rate for the Canadian dollar rose by $1, to $106 and the lowest buying rate was up 5 cents, to $83.42, the highest selling rate was unchanged at $107.48 and the lowest gained 5 cents to $100.50.
The highest buying rate for the British Pound, was slipped 60 cents to $193.60, while the lowest buying was unchanged at $154.38 and the highest selling rate declined by $2.09 to $196.93, the lowest selling rate was up by 50 cents at $186.50.
J$ gains as BOJ intervention still impacts market
Bank of Jamaica’s intervention in the forex market last Thursday, continued to affect forex trading on Monday, leaving dealers with US$14 million surplus between Thursday and Monday.
In the three days period they bought US$23 million more of all currencies, than the sold. In today’s trading the Jamaican currency appreciated against all three major currencies that trading takes place in. On Monday, dealers bought the equivalent of $42,467,751 versus US$34,345,235 on Friday and sold the equivalent of US$33,244,982 compared to US$27,608,212 sold on Friday.
In US dollar trading, dealers bought US$37,691,477 compared to US$26,461,541 on Friday as the buying rate for the US dollar, fell 3 cents to $112.03 and sold US$31,281,273 versus US$22,353,327 on Friday, with the rate falling 6 cents to $112.62.
The Canadian dollar buying rate dropped $2.34 cents, to $102.24 with dealers buying C$1,153,328 and selling just C$666,699 as the rate declined 51 cents, to $104.82.
The Pound closed at $189.67, for the purchase of £1,763,030, the rate fell $1.61, while £559,580 was sold, with the rate declining by 52 cents, to $192.13. Other currencies bought, amounted to the equivalent of US$738,897 while selling was the equivalent of just US$388,590.
Highs & Lows| The highest rate for buying the US dollar, rose 10 cents to $113.10, the lowest buying rate was unchanged at $92.02 but the highest selling rate rose $4.09, to close at $122 and the lowest selling rate dropped $18.35 to $91.85.
The highest buying rate for the Canadian dollar fell by 85 cents, to $105.10 and the lowest buying rate fell 21 cents, to $83.62, the highest selling rate rose by 54 cents to $108.61 and the lowest settled at 25 cents lower at $100.75.
The highest buying rate for the British Pound, was up 75 cents to $193.75, while the lowest buying rate eased by 4 cents to $154.71 and the highest selling rate rose by $3.16 to $199.45, the lowest selling rate was down by 5 cents at $186.40.
BOJ’s intervention still impacts FX market
Bank of Jamaica’s intervention in the forex market on Thursday, continued to affect forex trading on Friday and seems set to do so on Monday, usually the biggest trading day.
On Friday the selling rates for all three main currencies declined, as the Jamaican dollar strengthened. On Friday, dealers bought the equivalent of $34,345,235 versus US$81,413,723 on Thursday and sold the equivalent of US$27,608,212 compared to US$76,753,326 sold on the previous day.
In US dollar trading, dealers bought US$26,461,541 compared to US$79,215,627 on Thursday as the buying rate for the US dollar fell 45 cents to $112.06 and sold US$22,353,327 versus US$75,110,656 on Thursday, with the rate falling 2 cents to $112.69.
The Canadian dollar buying rate rose $1.78 cents, to $104.58 with dealers buying C$3,168,875 and selling, C$3,114,771 as the rate declined 66 cents, to $105.33.
The Pound closed at $191.28, for the purchase of £2,827,323, the rate climbed $2.08, while £1,313,681 was sold, with the rate declining by 32 cents to $192.66. Other currencies bought, amounted to the equivalent of US$100,110 while selling was the equivalent of just US$97,465.
Highs & Lows| There were several highs and lows that were unchanged at the end of trading. The highest rate for buying the US dollar fell 20 cents to $113, the lowest buying and the highest selling rates were unchanged at $92.02 and $117.91 respectively and the lowest selling rate rose 40 cents to $110.20.
The highest buying rate for the Canadian dollar fell by 25 cents, to $105.95 and the lowest buying, the highest and lowest selling rates were unchanged at $83.83, $108.07 and $101 respectively.
The highest buying rate for the British Pound, fell 30 cents to $193, while the lowest buying rate was unchanged at $154.75 and the highest selling rate declined by $3.27 to $196.29, the lowest selling rate was unchanged at $186.45.
Bank of Jamaica tames market with big sale
Bank of Jamaica’s announcement on Wednesday that they would intervene in the forex market on Thursday, led to heavy volume of US dollar being bought and sold, with dealers buying US$79.2 million and selling US$75 million, the rate for selling the US dollar slipped back by 3 cents Jamaican to J$112.71, compared with J$112.74 on Wednesday.
On Thursday, dealers bought the equivalent of $81,413,723 versus US$30,976,689 on Wednesday and they sold the equivalent of US$76,753,326 compared to US$27,377,149 sold on the previous trading day.
In US dollar trading, dealers bought US$79,215,627 compared to US$27,065,797 on Wednesday as the buying rate for the US dollar rose 36 cents to $112.50 and sold US$75,110,656 versus US$29,837,045 on Wednesday, with the rate falling 3 cents to $112.71.
The Canadian dollar buying rate fell 33 cents, to $102.79 with dealers buying only C$749,467 and selling even less, C$510,916 as the rate declined, 56 cents to $105.99.
The Pound closed at $189.20, for the purchase of £751,860, the rate declined 19 cents, while £341,356 was sold, with the rate unchanged at $192.97. Other currencies bought, amounted to the equivalent of US$248,856 while selling was the equivalent of just US$577,766.
Highs & Lows| The highest rate for buying the US dollar fell 5 cents to $113.20, the lowest buying and the highest selling rates were unchanged at $92.02 and $117.91 respectively and the lowest selling rate rose $16.33 to $109.80.
The highest buying rate for the Canadian dollar was up by 10 cents, to $106.20 and the lowest buying rate was unchanged at $83.83. The highest selling rate fell 32 cents, to $108.07 and lowest selling rate was unchanged, at $101.
The highest buying rate for the British Pound, fell 35 cents to $193.30, while the lowest buying rate was unchanged, at $154.75 and the highest selling rate climbed by $3.22, to $199.56, the lowest selling rate was rose $1.35 cents, to $186.45.
Dealers buy US$81m, sold US$77
Image courtesy of Marcus/FreeDigitalPhotos.net
Inflows don’t meet outflows
In Forex trading on Wednesday, the total inflows of funds was less than outflows, with the equivalent of US$30,976,689 being purchased to US$32,934,235 sold and compares to the equivalent of US$27,377,149 bought and US$29,447,519 sold on the previous trading day.
In US dollar trading, dealers bought US$27,065,797 compared to US$23,344,802 on Tuesday as the buying rate for the US dollar rose 21 cents to $112.14 and sold US$29,837,045 versus US$27,193,483 on Tuesday, with the rate rising 13 cents to $112.74.
The Canadian dollar buying rate rose 6 cents to $103.12 with dealers buying C$1,001,201 and selling only C$1,469,073, the rate rose by $1.30 to $106.55.
The Pound closed at $189.39 for the purchase of £1,054,247, the rate decline $1.29, while £539,822 was sold, with the rate inching up by 3 cents to $192.97. Other currencies bought, amounted to the equivalent of US$1,209,746 while selling was the equivalent of just US$784,851.
Highs & Lows| The highest rate for buying the US dollar fell $3.83 to $113.25, the lowest buying rate climbed 17 cents to $92.02 and the highest selling rates increased by 21 cents to $117.91 and the lowest selling rate rose $1.62 to $93.47.
The highest buying rate for the Canadian dollar fell $1.87 to $106.10 and the lowest buying rate declined by 29 cents to $83.83. The highest selling rate was unchanged at $108.39 and lowest selling rate, slipped by 35 cents to $101.
The highest buying rate for the British Pound, fell 15 cents to $193.65, while the lowest buying rate rose 4 cents at $154.75 and the highest selling rate dropped by $3.11 to $196.34, the lowest selling rate was down $1.35 cents to $185.10.
