Inflows of FX below norm on Monday

Trading in the Jamaican foreign exchange market on Monday was well below the levels expected for the first day of a week in the winter months. Dealers bought the equivalent of just US$27,603,340 and sold US$28,177,563, compared with US$58,820,996 purchased and US$48,672,598 sold on Friday.
In US dollars trading, dealers bought US$23,407,422 compared to US$55,716,976 on Friday with the buying rate for the US dollar falling 68 cents to $119.63. A total of US$26,363,858 was sold versus US$45,573,684 on Friday as the selling rate climbed by just 2 cents to $120.80. The Canadian dollar buying rate rose 28 cents to end at $80.79 with dealers buying C$2,421,519 and selling C$980,032, at an average rate that declined by $1.50 to $82.16. The rate for buying the British Pound dropped $3.03 to $169.10 for the purchase of £1,645,063, while £689,638 was sold, with the rate falling 22 cents to $171.32. At the end of trading, it took J$132.28 to purchase the Euro, for a jump of $1.37 on Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.79 for a rise of $1.53 on Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$235,202 being bought, while US$169,063 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at are, a fall of $2.30 in the highest selling rate of the Canadian dollar to $86.20 and the lowest selling rate falling by $1.55 to $78.15, the British Pound, dropping $3.10 of the highest buying rate to $173.45 and an increase of $1.34 in the highest selling rate to $178.90.