FX trading remains elevated on Tuesday

Heavy trading in Foreign currency which commenced on Friday last, continued into Tuesday with buying of more than US$51 million and selling of nearly $70 million. The Jamaican dollar gained value against the British Pound, the Canadian Dollar and the Euro, but slipped slightly against the US dollar.
Overall there was buying of the equivalent of US$51,072,479 versus US$67,262,829 on Monday, and selling of the equivalent of US$68,959,488 compared to US$54,210,527 on Monday. In US dollar trading, dealers bought US$45,621,979 compared to US$61,524,538 on Monday. The buying rate for the US dollar fell 17 cents to $113.92, and US$66,949,150 was sold versus US$51,640,183 on Monday, with the selling rate rising 3 cents to $114.57. The Canadian dollar buying rate gained 11 cents to $95.98 with dealers buying C$2,121,251 and selling C$972,385, at an average selling rate that fell 30 cents, to $97.77. The rate for buying the British Pound declined 26 cents to $176.09 for the purchase of £2,198,952 while £664,324 was sold, the rate eased 74 cents to $177.64. At the end of trading it took J$140.40 to purchase the Euro, 12 cents less than on Monday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$139.85, for a decline of 7 cents. Other currencies bought, amounted to the equivalent of US$264,243 while the equivalent of US$150,558, was sold.
Highs & Lows| The highest buying rate for the US dollar, remained unchanged at $114.85, the lowest buying rate closed 17 cents lower at $93.77 and highest selling was unchanged at $120.37. The lowest selling rate fell $16.06 to $93.94. The highest buying rate for the Canadian dollar rose 30 cents to $99.80. The lowest buying rate fell 33 cents to $78.52. The highest selling rate rose 11 cents to $101.33 and the lowest selling rate was unchanged at $94.55. The highest buying rate for the British Pound, dropped $6.85 to $178.80. The lowest buying rate fell 8 cents to $144.01, highest selling rate increased 10 cents to $185.75 and the lowest selling rate was unchanged at $173.35.