Friday, 16th August 2013 | The Pound sterling was the currency with the largest moves on Friday in the Jamaican forex market and the US dollar was the most stable. Authorised dealers purchased the Pound sterling at $1.15 more than they did on Thursday as the buying rate closed at $156.89 with £1.4 million being bought while they sold £761,827 at an average of $158.83 for 30 cents more at the end of the day than the starting rate.
The highest buying rate for the Pound was $159.40 some 10 cents more than the prior day’s close and bought it as low as $128.19 up by 70 cents. The Pound was sold at $2.76 less at $162.50 as the highest selling rate and $2.45 more for the lowest selling rate at $154.50.
The US dollar average rate was up 17 cents buying as dealers bought US$31.2 million at $101.37and sold US$30.3 million for 7 cents more at $101.95 for the average selling rate. But it cost 20 cents more to purchase the US dollar at the highest price of $102.45 and 22 cents more the sell at the highest rate of $107.54, the lowest buying and selling rates remained as the day before at $83.75 buying and $83.67 selling.
The Canadian was costing dealers 89 cents more to buy from the public at $97.39 for C$1.55 million and the sold C$1.37 million at 12 cents more at $98.56. The Canadian dollar was purchased as high as $99 for 10 cents more than the previous day’s closing rate. The lowest buying rate was 8 cents more at $79.51, on the other hand, selling took place as high as $102.51, which was 5 cents cheaper than before and the lowest rate was 30 cents less at $95.80 than on Thursday.
Overall purchases amounted to the equivalent of US$35.36 million US$2.4 million more than the US$32.9 million.
