FX surplus continues to build

In foreign exchange trading on Friday, net inflow was again positive, with US$11.7 million, bringing the net inflows for December to $144.3 million with the Jamaican dollar mostly gaining in value.
At the close of the market, dealers bought the equivalent of US$46,079,393 of all currencies and sold US$34,359,179, compared to US$39,589,559 purchased and US$32,426,860 sold on Thursday.
In US dollar trading, dealers bought US$39,993,301 compared to US$35,025,983 on Thursday. The buying rate for the US dollar fell 4 cents to close at $127.58. A total of US$29,111,300 was sold versus US$27,928,981 on Thursday, with the selling rate remaining unchanged at $128.33. The Canadian dollar buying rate gained 13 cents to $94.49, with dealers buying C$5,734,004 and selling C$5,539,238 at an average rate that fell $1.04 to finish at $95.36. The average rate for buying the British Pound dropped $2.26 to $155.09 for the purchase of £1,397,743 while £513,571 was sold with a fall of $1.10 to end at $157.62.
At the end of trading on Friday, dealers sold €441,154 with the selling rate for the Euro, closing with a fall of $2.89 to $133.65, according to data from Bank of Jamaica. Dealers purchased €119,654 of the European common currency at $129.27 after rising 77 cents. The US dollar equivalent of other currencies traded, amounts to US$19,134 being bought and selling of US$41,550.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Friday, include a rise of $16.67 in the lowest selling rate of the US dollar to at end $120. The highest buying rate for the Canadian dollar fell $1.45 to end at $95.63. The highest buying rate for the British Pound lost $2.70 to $159.97, the highest selling rate fell $5.28 to $161.90, the lowest selling rate fell $1.80 to $152 and the lowest selling rate for the Euro dropped $1.50 to $128.