FX inflows jump sharply on Tuesday

On Tuesday purchases by dealers of foreign currencies saw buying of the equivalent of US$84,319,871, up sharply from US$40,657,425 on Monday, while they sold the equivalent of US$76,815,510, well up on the US$34,677,307 previously.
In US dollar trading , dealers bought US$81,554,806 compared to US$36,337,858 on Monday. The buying rate for the US dollar rose 48 cents to $118.47 and US$74,978,636 was sold versus US$32,291,854 on Monday, the selling rate rose 2 cents to close at $118.74. The Canadian dollar buying rate gained 88 cents to $87.11, with dealers buying C$1,081,845 and selling C$681,338, at an average rate that rose 60 cents to $89.27. The rate for buying the British Pound climbed 28 cents to $179.40 for the purchase of £1,141,587, while £533,676 was sold, at an average rate that declined 37 cents to end at $181.50. At the end of trading, it took J$134.07 to purchase the Euro, a rise of 12 cents on Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$131.24, for a fall from Monday’s rate by 4 cents. The US dollar equivalent of other currencies traded, amounts to US$240,864 being bought, while US$508,938 was sold.
Highs & Lows| The highest buying rate for the US dollar increased 5 cents to $119.05 on Tuesday. The lowest buying, the highest selling and the lowest selling rates remained at $97.19, $124.55 and $96.78 respectively. The highest buying rate for the Canadian dollar fell 50 cents to $89.50, the lowest buying rate rose 8 cents to $71.05, the highest selling rate gained 48 cents to end at $92.50 and the lowest selling rate was up 60 cents to end at $85.60. The highest buying rate for the British Pound, fell $1.40 to $182, the lowest buying rate lost 50 cents to $146.66, the highest selling rate fell $4.17 to $185.54 and the lowest selling rate rose 30 cents to $176.30.