FX stock pile passes US$200M – Tuesday

Authorized dealers added another $4.5 million to the stockpile of foreign exchange on Tuesday, moving the net purchases since the end of June, to US$203 million by Jamaica’s foreign exchange dealers, as the selling rate for the United States dollar moved 4 more Jamaican cents higher.
In Tuesday’s trading, dealers bought US$42,680,027 and sold US$38,124,870 compared to US$52,424,074 purchased and US$42,905,414 sold on Monday, of all currencies.
In US dollar trading, dealers bought US$39,305,076 compared to US$49,240,991 on Monday. The buying rate for the US dollar rose 15 cents to $126.76. A total of US$36,480,180 was sold versus US$40,550,485 on Monday, with the selling rate rising 4 cents to end at $127.24. The Canadian dollar buying rate rose $1.35 to at $96.77, with dealers buying C$1,365,349 and selling C$833,472 at an average rate that dropped 36 cents to $98.76. The average rate for buying the British Pound climbed $1.56 to $163.53 for the purchase of £1,705,938, while £644,243 was sold with the rate climbing 24 cents to end at $167.23.
At the end of trading, the selling rate for the Euro, jumped $1.38 to close at J$145.26 from Monday’s rate, according to data from Bank of Jamaica, The US dollar equivalent of other currencies traded amounts to US$131,957 being bought, while US$150,982 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Tuesday, include a jump of $6.76 in the highest selling rate for the US dollar to $141, a decline of $1.49 in the highest selling rate of Canadian Dollar to close at $102.19, a rise of 80 cents in the lowest selling rate to end at $92.80. Trading in the British Pound resulted in a leap of $5.10 in the highest buying rate to $171.50, a rise of 83 cents in the lowest buying rate to $134.88, a jump of $5.58 in the highest selling rate to end at $180, while the lowest selling rate declined by $2 to close of $160.