FX Inflows fall in past week

Inflows into the Jamaican foreign exchange market at US$47.4 million on Friday was the highest for the week and so were outflows of $43.2 million but they helped in bringing the month’s surplus of all currencies traded to US$120 million, so far.
For the week to Friday, trading levels were almost the same as for the first week in July but quite different from the previous week with total inflows of US$213 million, US$7 million less than the week before and outflows of US$182 million, US$17 million higher with net inflows of all currencies ending with US$30.6 million surplus. In USA dollar trading, inflows into the system ended at US$38 million on Friday versus US$33 million on Thursday, while inflows for the week was US$177 down from US$195 million, with outflows at US$4 million more than the previous week, to end at US$150 million.
The value of the Jamaican dollar fell modestly against the US dollar on Friday with the selling rate for the US dollar ending at J$128.44 from J$128.33 previously. Dealers bought the US currency at an average of J$127.41 down from JS$127.21 on Thursday.
The selling rate for the Canadian dollar rose to J$104.38 from J$103.14 at the close on Thursday, while the British Pound was less costly at the close, with J$166.67 buying the British currency versus J$167.83 and the euro, rose against the Jamaican dollar, with it taking J$150.36 to buy the European common currency on, versus J$149.06 previously.