Good FX inflows continue on Thursday

Flows into the Jamaican foreign exchange market remains elevated as dealers bought the equivalent of US$42,340,656 and sold US$36,886,077, compared with US$40,443,682 and US$38,941,809 respectively on Wednesday.
Purchase of US dollars , was above the amount sold by dealers by US$5 million with dealers buying US$38,568,833 compared to US$36,794,485 on Wednesday. The buying rate for the US dollar rose 15 cents to $119.84. A total of US$33,479,725 was sold versus US$37,917,698 on Wednesday, the selling rate moved down by 6 cents to $120.32. The Canadian dollar buying rate rose 87 cents to end at $85.07 with dealers buying C$2,789,000 and selling C$2,484,741, at an average rate that gained 62 cents to $86.43. The rate for buying the British Pound fell $3.17 to $175.54 for the purchase of £1,103,035, while £492,870 was sold, with the rate falling 92 cents to $177.64. At the end of trading, it took J$131.73 to purchase the Euro, up by 31 cents from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.01 for a rise of 27 cents from Wednesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$176,212 being bought, while US$893,905 was sold.
Highs & Lows| The highest buying rate for the US dollar, was unchanged at $120.55, the lowest buying rate rose 8 cents to $98.86, the highest selling rate rose 6 cents to $126.69 and lowest selling rate was unchanged at $98.78. The highest buying rate for the Canadian dollar climbed 32 cents to $87.52, the lowest buying rate dipped 66 cents to $69.31, the highest selling rate jumped $2.75 to $92.95 and the lowest selling rate slipped $1 to $82. The highest buying rate for the British Pound, declined by 53 cents to end at $181.07. The lowest buying rate declined $2.32 to $143.76, while the highest selling rate rose $1.82 to end at $187.50 and the lowest selling rate dropped $1 to $173.