Trading volumes increased in the Jamaica foreign currency market on Monday, with the average selling rate against the US dollar rising modestly and the buying rate easing versus the closing rate on Friday.
Dealers enjoyed inflows of all currencies amounting to the equivalent US$49.25 million compared to US$38.7 million bought on Friday and sold US$48.57 million versus US$33.34 million previously.
At the close of foreign currency trading, dealers sold US$42.11 million at 3 cents more than on Friday with the US dollar selling rate closing at J$125.22, compared to J$125.19 in the sale of US$30.55 million at the close, on Friday. Purchases of the US currency by dealers, amounted to US$42.64 million, with the average rate falling 18 cents to $123.82, compared to US$35.32 million, with the average rate of $124 on Friday.
At mid-day on Monday dealers purchased US$14.62 million at an average rate of J$124.18 and sold $10.34 million at an average of J$125.29. At mid-day on the previous trading day, dealers purchased US$12.59 million at an average rate of J$124.63 and sold $11.54 million at an average of J$125.15.
The Jamaican dollar closed trading, with the selling rate for the Canadian dollar, fell to J$98.36 from J$99.06 at the close on Friday. The selling rate for the British Pound declined to J$175.34 from J$175.94 previously and the euro declined versus the Jamaican dollar to J$153.42 to buy the European common currency, versus the prior selling rate of J$156.23.
Forex volume rises on Monday
April 23, 2018 by
