FX stock pile now US$189M – Friday

Authorized dealers added another $6 million to their stockpile of foreign exchange on Friday moving the net purchases since the end of June, to US$189 million by Jamaica’s foreign exchange dealers as the selling rate for the United States dollar rose again.
In Friday’s trading, dealers bought US$44,787,776 and sold US$38,925,904 compared to US$43,395,032 purchased and US$37,474,064 sold on Thursday, of all currencies.
In US dollar trading, dealers bought US$42,010,057 compared to US$39,678,921 on Thursday. The buying rate for the US dollar fell 1 cent to $126.65. A total of US$36,526,935 was sold versus US$35,507,077 on Thursday, with the selling rate rising 5 cents to end at $127.20. The Canadian dollar buying rate fell 54 cents to end at $95.62, with dealers buying C$1,077,564 and selling C$1,486,362 at an average rate that jumped $1.14 to $99.28. The average rate for buying the British Pound climbed $1.01 to $163.53 for the purchase of £1,409,548, while £854,904 was sold with the rate jumping by $1.15 to end at $166.07.
At the end of trading, the selling rate for the Euro, dropped $2.33 to close at J$142.59 from Thursday’s rate, according to data from Bank of Jamaica, The US dollar equivalent of other currencies traded amounts to US$457,288 being bought, while US$411,932 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Friday, include a drop of $18.80 in the lowest selling rate for the US dollar to $104.20, a rise of 97 cents in the highest selling rate of Canadian Dollar to close at $103.68, a jumped of $5 in the lowest selling rate to end at $95. Trading in the British Pound resulted in a rise of $3.64 in the highest buying rate to $170.74, a rise of $1.91 in the lowest buying rate to $134.88, a rise of $2.48 in the lowest buying rate to end at $175.50 while the lowest selling rate climbed $2 to close of $160.