At the close of trading the Jamaica’s Forex market on Friday the average rate for the public to buy the US dollar declined to $125 Jamaican for the first time since May 17, 2016, when the rate was $124.80.
Inflows of all currencies ended at US$47.75 million, versus US$75.53 million on Thursday with selling of US$56.28 million compared with US$82.73 million sold on Thursday. Total purchases for December came to US1.055 billion while the dealers sold a similar amount in all currencies.
In US dollar ,trading dealers sold US$55.06 million at an average of $125 at the close, compared US$73.32 million at an average rate of $125.09 on Thursday. US currency purchases by dealers, amounted to US$40.80 million, at an average rate of $124.06, compared to Thursday, with US$65.24 million at $124.06.
On Friday at midday dealers purchased US$17.6 million at an average rate of J$124.48 and sold US$9.87 million at an average of J$124.95. At mid-day on Thursday dealers purchased US$26.33 million at an average rate of J$124.45 while they sold US$24.36 million at an average of J$124.99.
The selling rate for the Canadian dollar dropped to J$97.39 from J$99.87 at the close on Thursday. The selling rate for the British Pound rose to J$167.03 versus J$164.20 previously and the euro gained in value against the Jamaican dollar at J$147.52 to buy the European common currency, versus the prior selling rate of J$146.75.
It is now J$125 for 1 US dollar
December 29, 2017 by
