The Jamaican foreign exchange market returned to normal on Wednesday with dealers buying the equivalent US$36,348,672 and selling US$33,993,285, compared with US$113,650,452 purchased and US$115,800,882 sold on Tuesday. Changes in the rates of the various currencies were mixed with the US dollar continuing to gain.
In US dollars trading, dealers bought US$32,927,644 compared to US$110,719,783 on Tuesday with the buying rate for the US dollar fell 40 cents to $120.10. A total of US$31,914,028 was sold versus US$114,279,943 on Tuesday as the selling rate climbed 2 cents to $120.73.
The Canadian dollar buying rate fell 29 cents to end at $81.76 with dealers buying C$1,224,307 and selling C$911,193, at an average rate that rose 11 cents to $83.78. The rate for buying the British Pound climbed 81 to $171.20 for the purchase of £1,659,859, while £935,638 was sold, with the rate dropping 74 cents to $172.69. At the end of trading, it took J$130.68 to purchase the Euro, for fall of 30 cents on Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.50 for a rise of 28 cents on Tuesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$221,512 being bought, while US$108,614 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at were, a fall of $1.80 in the highest buying rate for the Canadian dollar to $84.60, a rise in the highest selling rate of $2.05 to $90, a fall in the highest buying rate of British Pound, by $2.30 to $175.20 and a $2.79 decline in the highest selling rate that closed at $178.90.
FX market normalizes on Wednesday
January 13, 2016 by
