The Jamaican dollar made further gains on Friday and for the week sitting just above $129 to the US in forex trading, as dealers sold off US$28 million more than they purchased during the week.
For the week US$237 million was purchased by dealers while they sold $265 million as inflows remain very buoyant with dealers selling US$47.73 million at an average rate of J$129.07 versus J$129.34 for US$39.07 million previously.
US currency purchases, accounted for US$46.71 million at an average rate of JS$128.42 up from total inflows US$33.93 million on Thursday at an average rate of J$128.35.
Inflows of all currencies into Jamaica’s forex market jumped to US$55.46 million compared to US$41.15 million on Thursday, while dealers sold US$53.50 million versus US$46.03 million, previously.
The selling rate for the Canadian dollar slipped to J$ 103.22 from J$104.11 at the close on Thursday. The British Pound declined to J$168.61 for buying the British currency versus J$171.45 previously and the euro lost value against the Jamaican dollar, with it taking J$152.05 to buy the European common currency, versus J$153.03, previously.
Dealers dumping US$
October 6, 2017 by
