Dealers back off buying US$ – Monday

The strong signs of the selloff of US dollars are visible in forex market activities on Monday. Dealers dropped their buying price nearly $2 lower than on Friday, to $126.72 for the US dollar down from $128.42 on Friday.
US currency purchases, accounted for only US$15.82 million, up from total inflows US$46.71 million on Friday. Dealers sold US$30.04 million at an average rate of J$129.06 versus J$129.09 for US$47.73 million previously.
Inflows of all currencies into Jamaica’s forex market slipped to only US$20.95 million compared to US$55.46 million on Friday, while dealers sold US$33.91 million versus US$53.50 million, previously.
The selling rate for the Canadian dollar climbed to J$103.78 from J$103.22 at the close on Friday. The British Pound rose to J$169.55 for buying the British currency versus J$168.61 previously and the euro lost value against the Jamaican dollar, with it taking J$151.19 to buy the European common currency, versus J$152.05, previously.