FX market back to normal – Friday

The foreign exchange market returned to normal on Friday the day after Bank of Jamaica had a massive intervention with over the US$100 million market on Thursday. The local currency moved even closer to $120 to the US dollar with a 6 cents fall. Purchases by dealers of foreign currencies saw buying of the equivalent of US$34,967,631 in contrast to large sum of US$124,150,664 on Thursday, while they sold the equivalent of US$28,565,935, well down from US$118,010,252 previously.
In US dollar trading , dealers bought US$30,769,583 compared to US$121,494,099 on Thursday. The buying rate for the US dollar declined 36 cents to $118.08 and US$26,705,554 was sold versus US$116,060,844 on Thursday, the selling rate rose 6 cents to close at $118.68. The Canadian dollar buying rate fell 17 cents to $86.80, with dealers buying C$789,575 and selling C$779,936, at an average rate that dipped 25 cents to $89.56. The rate for buying the British Pound gained 85 cents to $180.43 for the purchase of £2,171,885, while £784,302 was sold, at an average rate that rose 51 cents to end at $183.09. At the end of trading, it took J$133.12 to purchase the Euro, a rise of 69 cents on Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$130.92, for an increase on Thursday’s rate by $1.47. Other currencies bought,
Highs & Lows| The highest and lowest rates for trading the US dollarwere all unchanged on Friday. The highest and lowest buying, the highest and lowest selling rates ended at $117.60, $96.19, $123.26 and $96.15 respectively. The highest buying rate for the Canadian dollar fell 90 cents to $90.10, the lowest buying rate remained unchanged at $71.63, the highest selling rate fell 16 cents to end at $92.34 and the lowest selling rate added 70 cents to end at $87. The highest buying rate for the British Pound, remained unchanged at $183.20, the lowest buying rate gained 5 cents to $147.33, the highest selling rate jumped $3 to $189.92 and the lowest selling rate climbed $2 to $178.