FX Inflows depressed on Tuesday

Trading in the Jamaican foreign exchange market on Tuesday was still below the levels expected for this time of a week in the winter months. Dealers bought the equivalent of just US$24,412,348 and sold US$31,030,871, compared with US$27,603,340 purchased and US$28,177,563 sold on Monday.
In US dollars trading, dealers bought US$21,172,486 compared to US$23,407,422 on Monday with the buying rate for the US dollar rising 37 cents to $120. A total of US$28,937,052 was sold versus US$26,363,858 on Monday as the selling rate climbed by 5 cents to $120.85. The Canadian dollar buying rate rose $1.05 to end at $81.84 with dealers buying C$2,359,149 and selling C$1,905,459, at an average rate that rose 89 cents to $83.05. The rate for buying the British Pound dropped $1.20 to $167.90 for the purchase of £1,052,798, while only £374,507 was sold, with the rate falling $1.72 to $169.60. At the end of trading, it took J$131.37 to purchase the Euro, for a fall of 91 cents from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.15 for a decline of $1.64 from Monday’s rate. The US dollar equivalent of other currencies traded, amounts to US$157,901 being bought, while US$258,822 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at are, a fall of $1.87 in the lowest selling rate of the US dollar to $98.86. The highest buying rate of the Canadian dollar fell $1.35 to $83.65 and the lowest selling rate slipped by $1.15 to $77. The British Pound, dropped $1.25 in the highest buying rate to $172.20 and by $1.50 in the lowest selling rate to $164.