Forex inflows jump to US$87m on Monday

The Jamaican dollar made more gains in foreign exchange trading on Monday, closing 17 cents better to purchase one US dollar than on Friday, on a day that saw inflows surge to US$87 million for all currencies.
Sales of all currencies into Jamaica’s forex market ended at US$68.80 million, from US$101.2 million, previously. On Friday dealers purchased US$44.14 million, well below the amount bought on Monday.
Dealers sold US$57.69 million at $127.61 at the close of trading up from US$39.51 million at $127.78 on Friday. US currency purchases, amounted to US$76.03 million on Monday, at an average rate of $126.95 compared to Friday, with US$31.08 million at $126.73.
At Midday, dealers bought US$37.8 million at J$127.24 and sold US$28.57 million at J$127.64 compared to the buying of US$13.37 million at J$127.31 and selling of US$11.37 million at J$127.74 at the same time on Friday.
The selling rate for the Canadian dollar fell to J$101.44 from J$101.70 at the close on Friday. The selling rate for the British Pound slipped to J$166.91 versus J$168.55 on Friday and the euro dropped in value against the Jamaican dollar, to J$150.37 to buy the European common currency, versus J$152.45 previously.