FX levels drop sharply Thursday

Trading in the foreign exchange market declined on Thursday. On Thursday the Jamaican dollar slipped slightly against the US dollar but gained against the British pound and Canadian dollar as purchases of all currencies by dealers amounted to the equivalent of US$22,936,813, compared with US$30,557,484, on Wednesday and selling of the equivalent of US$23,541,033 versus sale of US$32,121,997, previously.
In US dollar trading, dealers bought US$21,139,764 compared to US$26,518,924 on Wednesday. The buying rate for the US dollar remained stable at $115.21 and US$22,178,470 was sold versus US$30,223,008 on Wednesday, the selling rate was up 1 cent to $115.81. The Canadian dollar buying rate fell 84 cents to $93.07 with dealers buying C$617,645 and selling C$513,762, at an average rate that fell 21 cents to $95.98. The rate for buying the British Pound dropped $1.41 to $172.84 for the purchase of £818,194, while £529,793, was sold, at an average rate that fell $1.41 to $175.48. At the end of trading it took J$131.48 to purchase the Euro, $1.97 more than on Wednesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.85 for a rise of $1.53 on Wednesday’s rate. Other currencies bought, amounted to the equivalent of US$70,686, while the equivalent of US$134,057, was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 5 cents to $116.05. The lowest buying rate advanced by $3.11 to $94.61 and highest selling rate remained at $121.23, while the lowest selling rate dropped $1.86 to $94.61. The highest buying rate for the Canadian dollar fell 80 cents to $96. The lowest buying rate rose 37 cents to $76.36, the highest selling and the lowest selling rates remained at $98.78 and $92 respectively. The highest buying rate for the British Pound, dropped 30 cents to $176.50, the lowest buying rate remained at $140.69, the highest selling rate fell $8.63 to $181.37 with the lowest selling rate falling $2.50 to $169.50.