Forex inflows upto US$49m – Wednesday

Inflows of all currencies into Jamaica’s forex market, rose on Wednesday to US$48.90 million from Tuesdays’ US$45.06 million, while dealers sold US$47.27 million versus US$49.48 million, previously.
Bank of Jamaica weekly auction scheduled for Wednesday would have pumped $10 million into the system and is expected to be included in the total inflows.
US currency purchases, accounted for US$40.57 million of the total inflows, at an average of J$129.40 versus J$129.26 for US$36.50 million on Tuesday, while dealers sold US$39.66 million at JS$130.37 compared to J$130.45 for US$41.60 million previously.
The selling rate for the Canadian dollar dropped to J$105.80 from J$106.41 at the close on Tuesday. The British Pound was marginally more costly, with J$175.50 buying the British currency versus J$175.34 previously and the euro fell in value against the Jamaican dollar, with it taking J$154.06 to buy the European common currency, versus J$156.15 previously.