Wednesday, 25 September 2013 | The Jamaican dollar lost value against the three main traded currencies on Wednesday as authorized dealers bought the equivalent of US$36.3 million and sold US$40.7 million.
But it was the disparity in the buying and selling of United States currency that made the greatest difference in the market, with a US$4.4 million shortfall between buying and selling, as dealers pulled in US$30.7 million at an increased rate of $102.64, up by 44 cents while they sold US$35.1 million, 31 cents more than on Tuesday at $103.34. Dealers paid as much as $104 in buying the US dollar at 25 cents more than the day before, but bought as low as $84.50, the same as the prior day. There was no change to the highest selling rate of $108.28 and it was 10 cents more on the lowest sell rate of $100.10.
The highest rate paid by dealers for the Canadian dollar was 40 cents less than the day before to end at $100.60 and 25 cents less for the low rate of $80.51, but dealers cut $2.05 off the highest rate sold at $102.11 and $1.60 off the lowest at $95. C$723,000 was sold to dealers at $98.42 up 44 cents for the day, and dealers sold C$2.25 million for a $1.13 increase to $100.98.
It cost dealers $2.20 more to purchase the British Pound at the new rate of $168 at the high end and bought the currency as low as 58 cents lower than on Tuesday at $133.22. The Pound sold as high as $171.73, an increase of $4.03 and as low as $158.55, a reduction of $1.45.
Dealers bought £2.57 million at a new rate of $164.88 that was $2.93 higher than the previous rate and sold £1.5 million at 167.10 up by $1.65
