FX purchases exceed sales again

Purchases of all currencies by dealers on Monday was greater than the amount sold by US$8.5 million and increases the net purchases by $12.5 million since Friday. The Jamaican dollar remained stable against the US dollar but rose against the Pound and the Canadian dollar. Dealers bought the equivalent of US$43,691,010 compared with US$29,230,364, on Friday while they sold the equivalent of US$35,083,711 versus US$25,122,040 previously.
In US dollar trading, dealers bought US$39,437,114 compared to US$22,763,864 on Friday. The buying rate for the US dollar gained 5 cents at $115.78 and US$32,592,055 was sold versus US$22,000,617 on Friday, the selling rate remained unchanged at $116.36. The Canadian dollar buying rate slipped 32 cents to $91.88 with dealers buying C$1,362,880 and selling C$897,179, at an average rate that dropped $1.29 to $93.99. The rate for buying the British Pound increased 2 cents to $177.28 for the purchase of £1,514,097, while £660,200 was sold, at an average rate that declined 59 cents to $179.95. At the end of trading it took J$131.13 to purchase the Euro, 43 cents more than on Friday , according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.46 for 45 cents more than Friday’s rate. Other currencies bought, amounted to the equivalent of US$853,963, while the equivalent of US$746,010, was sold.
Highs & Lows| The highest buying rate for the US dollar rose 10 cents to $116.75, the lowest buying rate inched up 17 cents to $95.36. The highest selling rate jumped $3.99 to $122.19 and the lowest selling rate grew 17 cents to $95.36. The highest buying rate for the Canadian dollar gained 40 cents to $94.80, the lowest buying rate garnered 4 cents to $75.03, the highest selling fell 70 cents to $96.80 and the lowest selling rate declined 10 cents to $90.40. The highest buying rate for the British Pound, remained unchanged at $181.30, the lowest buying rate increased by $1.62 to $145.04, with the highest selling rate jumping $3.05 to $186.98 and the lowest selling rate remained unchanged at $173.60.