Friday, 22nd November 2013 | The US dollar backed off from crossing the $106 mark as the Jamaica dollar appreciated against all of the currencies in Friday’s trading except for a rise in the buying rate for the US dollar. There was increased liquidity in the Foreign Exchange market which helped push rates down. The majority of rates at the high and low ends retreated as well.
The purchasing of foreign currencies climbed to the equivalent of $43,675,555 or US$9 million more than the amount sold of US$34,529,512 on the final day of the week.
Trading took place in US dollars when dealers bought US$40,458,636 for an increased rates which was up 36 cents to $105.38 and they sold US$32,453,090 with the rated declining 14 cents to $105.83. C$977,622 was purchased with the rate falling 93 cents to $98.53 at the close and C$925,392 was sold as the rate declined by 23 cents $101.11, the British Pound was bought at $168.50 down $1.58, as dealers picked up £891,428 and sold £615,687 at $171.37, down by 77 cents.
Highs & Lows | The US dollar highest buy rate fell by 60 cents to $106.60, while the lowest was unchanged at $85.59. The highest selling rate increased by 27 cents to $109.94 and the lowest gained 10 cents to $102.60.
Rates for the Canadian dollar fell across the board with the high being down 70 cents to $101.30 and the low down 12 cents to $80.22; the high for selling fell 90 cents to $103.65 and the low was off 15 cents to $96.65.
The British Pound suffered declines across the board against the Jamaican dollar with the high for buying losing 99 cents to end at $171.56, the low was off 8 cents to $136.37 while the high for selling was $174.20, down $1.71 and the low shed 45 cents to end at $164.30.
