FX stock pile now US$199M

Authorized dealers added another $9.5 million to their stockpile of foreign exchange on Monday, moving the net purchases since the end of June, to US$199 million by Jamaica’s foreign exchange dealers as the selling rate for the United States dollar remained unchanged.
In Monday’s trading, dealers bought US$52,424,074 and sold US$42,905,414 compared to US$44,787,776 purchased and US$38,925,904 sold on Friday, of all currencies.
In US dollar trading, dealers bought US$49,240,991 compared to US$42,010,057 on Friday. The buying rate for the US dollar fell 4 cents to $126.61. A total of US$40,550,485 was sold versus US$36,526,935 on Friday, with the selling rate remaining unchanged at $127.20. The Canadian dollar buying rate fell 20 cents to end at $95.42, with dealers buying C$1,562,757 and selling C$1,018,193 at an average rate that dropped 16 cents to $99.12. The average rate for buying the British Pound dived $1.56 to $161.97 for the purchase of £1,165,893, while £859,281 was sold with the rate climbing 92 cents to end at $166.99.
At the end of trading, the selling rate for the Euro, jumped $1.29 to close at J$143.88 from Friday’s rate, according to data from Bank of Jamaica, The US dollar equivalent of other currencies traded amounts to US$513,890 being bought, while US$433,430 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Monday, include a drop of 66 cents in the lowest selling rate for the US dollar to $103.54, a rise of $1.40 in the highest buying rate of Canadian Dollar to close at $100.20, a drop of $3 in the lowest selling rate to end at $92. Trading in the British Pound resulted in a fall of $4.34 in the highest buying rate to $166.40, slippage of 83 cents in the lowest buying rate to $134.05, a slide of $1.08 in the highest selling rate to end at $174.42, while the lowest selling rate declined by $2 to close of $158.