December’s FX surplus builds to $162M

In foreign exchange trading on Wednesday after the market closed for the long holiday period, net inflow was again positive with US$18 million, bringing the net inflows for December to $162 million with the Jamaican dollar gaining in value against the Canadian dollar and the pound, slipping slightly versus the US and down against the euro.
At the close of the market, dealers bought the equivalent of US$65,090,524 of all currencies and sold US $47,042,348, compared to US$46,079,393 purchased and US$34,359,179 sold on Friday.
In US dollar trading, dealers bought US$55,315,886 compared to US$39,993,301 on Friday. The buying rate for the US dollar fell 27 cents to close at $127.31. A total of US$38,694,334 was sold versus US$29,111,300 on Friday, with the selling rate inching up 1 cent to $128.34. The Canadian dollar buying rate fell 49 cents to $94, with dealers buying C$9,075,794 and selling C$8,755,639 at an average rate that fell 11 cents to finish at $95.25. The average rate for buying the British Pound dropped 33 cents to $154.76 for the purchase of £1,903,806 while £934,004 was sold with a fall of $1.06 to end at $156.56.
At the end of trading on Wednesday, dealers sold €547,303 with the selling rate for the Euro, closing with a rise of $2.80 to $136.45, according to data from Bank of Jamaica. Dealers purchased €612,472 of the European common currency at $130.92 after adding $1.71 cents. The US dollar equivalent of other currencies traded, amounts to US$129,105 being bought and selling of US$128,832.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Wednesday, include a fall of $16.67 in the lowest selling rate of the US dollar to $103.33. The highest selling rate for the Canadian dollar fell $1.08 to end at $98.82. The highest buying rate for the British Pound lost $1.23 to $158.74, the lowest buying rate fell $1.25 to $126.99, the highest selling rate climbed $3.34 to $165.24, the highest buying rate for the Euro dropped $2.47 to $123.80 and the lowest selling rate dived $19.94 to $108.06.