Trading in the foreign exchange market return to normal levels on Wednesday after a big jump in the buying and selling volumes on Tuesday. On Wednesday the Jamaican dollar slipped against all it major peers as purchases of all currencies by dealers amounted to the equivalent of US$30,557,484, compared with US$78,256,318, on Tuesday and selling of the equivalent of US$32,121,997 versus sale of US$81,132,131, previously.
In US dollar trading, dealers bought US$26,518,924 compared to US$75,998,214 on Tuesday. The buying rate for the US dollar declined 33 cents to $115.21 and US$30,223,008 was sold versus US$79,709,830 on Tuesday, the selling rate was up 4 cents to $115.80. The Canadian dollar buying rate rose 48 cents to $93.91 with dealers buying C$907,443 and selling C$707,284, at an average rate that rose 64 cents to $96.19. The rate for buying the British Pound gained $1.93 to $174.25 for the purchase of £2,102,100, while £825,265, was sold, at an average rate that crept up 94 cents to $175.75. 
At the end of trading it took J$129.51 to purchase the Euro, 33 cents more than on Tuesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.33 for a rise of 70 cents on Tuesday’s rate. Other currencies bought, amounted to the equivalent of US$119,641, while the equivalent of US$58,947, was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 20 cents to $116. The lowest buying rate declined by $2.86 to $91.50 and highest selling rate remained at $121.23, while the lowest selling rate dropped back by $16.83 to $96.47. The highest buying rate for the Canadian dollar gained 80 cents to $96.80. 
The lowest buying rate rose 63 cents at $75.99, the highest selling rate climbed 60 cents to $98.78 and the lowest selling rate gained $1 to $92. The highest buying rate for the British Pound, climbed $1.30 to $176.80, the lowest buying rate rose 25 cents to $140.69, the highest selling rate jumped $11.17 to $190 with the lowest selling rate jumping $2.80 to $172.
Currency volumes normalize Wednesday
May 6, 2015 by
