The Jamaica dollar closed on Tuesday above 126 level for one US dollar for the first time as forex trading saw more selling by dealers than the amount bought by them.
The foreign exchange market closed on Tuesday with dealers buying the equivalent in all currencies of US$46,789,793 and selling US$53,956,348, in contrast to US$46,887,823 purchased and US$45,219,931 sold on Monday
In US dollar trading, dealers bought US$44,550,096 compared to US$43,963,642 on Monday as the buying rate for the US dollar rose 29 cents to $125.48. A total of US$50,575,123 was sold versus US$43,909,244 on Monday with the selling rate rising 6 cents to $126.05.
The Canadian dollar buying rate climbed $1.19 to end at $95.31 with dealers buying C$863,203 and selling C$2,979,467, at an average rate that rose $2.49 to $99.24. The average rate for buying the British Pound dropped 71 cents to $175.40 for the purchase of £1,091,795, while £295,344 was sold, with the rate falling $1.74 to $177.85.
At the end of trading, the selling rate for Euro, rose 15 cents to close at J$142.38 from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$139.35, for a rise of 16 cents off Monday’s rate.
The US dollar equivalent of other currencies traded amounts to US$57,873 being bought, while US$618,927 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 rise in the lowest selling rate of the Canadian Dollar by $7.30 to $92, a fall in the highest buying rate British Pound of $2.55 to $179, a fall in the lowest buying rate by 66 cents to $142.93, a decline in the highest selling rate of 86 cents to $185.98 and a fall of 90 cents in the lowest selling rate to $170.50.
It’s now J$126.05 for the US – Tuesday
June 14, 2016 by