Friday, August 2nd, 2013 | The last two weeks to August 2nd were very good for the foreign exchange market as authorised dealers purchased US$21 more than they sold in the holiday shortened week on top of US$16 million more purchased than sold in the week ending the 26th of July. In weeks ending 12th and 19th of July, foreign currency dealers bought nearly $15 million more than they sold. with buying and selling being even in the 1st week of the month.
There was more buying than selling for all r days of trading this week. On Friday, US$2.6 million more was purchased than the amount sold, up from nearly US$10 million on Wednesday. Overall buying accounted for US$32.3 million and selling US$29.7 million on Friday.
Rates |The US dollar selling rate remained firm at $101.85 but all other spot rates declined with the buying rate for the US dollar falling by 33 cents to $101.03, that for the Canadian declined by $1.03 to close at $96.32 and the Pound Sterling lost $2 to $151.57. The Canadian selling rate slipped by 79 cents to $98.30 and the Pound by 97 cents to $155.17.
Dealers bought the US dollar as high as $102.20, down 30 cents and as low as $77.61, a decline of $6.06. It cost dealers 20 cents more to purchase the Canadian dollar at $99.40, the highest price paid and 15 cents less for the lowest price at $$77.95. For the pound, $155.70 the highest price but there was no change from the previous days rate, but the lowest buying rates slipped back by $1.82 to $123.97. On the sell side there was no charge for the US dollar from the day before, while the Canadian dollar cost 11 cents less at $102.88, the highest rate and 23 cents less for the lowest rate which ended at $95.92. The Pound was more expensive for the highest and lowest selling rates as the former increased by $3.86 to $162.16 and the lowest was up 85 cents to $150.60.
