The rate for to buy the US dollar by the public in Jamaica’s foreign currency market, dropped by 22 Jamaican cents on Monday, as inflows into the market exceeding outflows by US$8 million.
On Monday at midday dealers purchased US$19.60 million at an average rate of J$125.20 while they only sold US$15.74 million at an average of J$125.73.
At mid-day on Friday dealers purchased US$7.7 million at an average rate of J$125.24 while they sold US$6.96 million at an average of J$125.98.
On Monday, the rate of exchange to buy the US dollar by the public, declined for the fifth consecutive day to end at $125.76, as dealers sold US$48.69 million in US dollars, compared to US$30.35 million at an average rate of $125.98 on Friday. US currency purchases amounted to US$56.75 million on Monday, at an average rate of $124.94, compared to Friday, with US$30.77 million at $124.73.
Dealers’ purchased US$61.32 million, versus US$34.27 million on Friday in all currencies in Jamaica’s Forex market and sold just US$50.73 million compared with US$32.6 million sold, previously.
The selling rate for the Canadian dollar dropped to J$96.77 from J$98.60 at the close on Friday. The selling rate for the British Pound slipped to J$168.62 versus J$169.10 previously and the euro gained value against the Jamaican dollar, moving to J$149.90 to buy the European common currency, versus prior selling rate of J$150.96.
It cost J$125.76 for one US dollar
December 4, 2017 by
