The Jamaican dollar continues to make slow gains against the US dollar, in Tuesday’s forex trading. Bank of Nova Scotia bought US$6,068,907 at $112.43 each but sold US$13,995,762 at $112.65 to be the largest seller on Tuesday. At the close of the market, there was selling of US$11.5 million more foreign currency, to the public than was bought by dealers. Authorized dealers purchased the equivalent of US$36,902,410 versus US$45,684,367 on Monday. The equivalent of US$48,450,336 was sold compared with US$41,145,809 on Monday.
The selling rate for the local currency to buy one US dollar, settled at $112.61, a slight improvement over the closing price on Monday. The local currency not only gained against the US dollar but also against the Canadian dollar, but fell against the Pound.
In US dollar trading, dealers bought US$29,102,213 compared to US$38,512,175 on Monday. The buying rate for the US dollar rose 5 cents to $112.25 and US$42,208,347 was sold versus US$36,824,756 on Monday, the selling rate inched down 1 cent to $112.61. The Canadian dollar buying rate, rose $1.10 to $100.13 with dealers buying C$5,720,004 and selling C$4,314,882 at an average selling rate that eased 2 cents, to $100.43. The rate for buying the British Pound is down 84 cents to $178.65, for the purchase of £1,633,650, while £1,391,145 was sold, at $180.24, climbing 50 cents. Other currencies bought, amounted to the equivalent of US$98,223, while selling was for the equivalent of US$166,795.
Highs & Lows| The highest buying rate for the US dollar, closed 3 cents down at $112.80, the lowest buying, the highest and the lowest selling rates, were unchanged at $91.85, $117.70 and $91.85 respectively. The highest buying rate for the Canadian dollar rose 20 cents to $100.75, the lowest buying rate remained at $79.27, the highest selling rate declined 10 cents to $103. The lowest selling rate closed unchanged at $95.50. The highest buying rate for the British Pound, dropped 43 cents to $181, the lowest buying rate did not move from $143.92. The highest selling rate dropped $2.24 to $185.54 and the lowest selling rate was unperturbed at $173.40.
Its BNS big sell off day as J$ revalues more
October 7, 2014 by
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[…] Authorized Dealers sold much more foreign currency that they bought on Friday. Bank of Nova Scotia (BNS) and National Commercial Bank (NCB) were big net sellers of the US dollar, the second […]
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[…] of the ten Authorized Dealers were net sellers of US dollars on Thursday. Bank of Nova Scotia was the largest net seller, with US$7.33 million bought, to US$14.23 million sold, followed by […]
[…] Bank of Nova Scotia (BNS) bought just US$3.9 million on Friday but sold US$17.8 million. On Thursday BNS sold US$12.6 million compared buying of only US$7.97 million, resulting in a net sale of US$19 in the two days. On Thursday, National Commercial Bank (NCB) also sold more than they bought, with buying accounting for $6 million and selling US$10.5 million. NCB’s trade on Friday, was more balanced, with selling of just US$1 million more than they bought. While Scotia’s average selling rate was $115.70 on Thursday, on Friday it fell to $115.57, in contrast NCB’s average selling rate on Friday was $115.75 and $115.69 on Thursday. There was more selling than buying of foreign currencies by dealers on Friday, with purchases of all currencies amounting to US$47,277,720 compared with US$42,778,081, on Thursday. Selling was the equivalent of US$64,474,492 versus US$52,219,662 sold on Thursday. In US dollar trading, dealers bought US$44,421,153 compared to US$38,951,367 on Thursday. The buying rate for the US dollar climbed 5 cents to $115.28 and US$62,378,941 was sold versus US$49,786,691 on Thursday, the selling rate dropped 9 cents to $115.60. The Canadian dollar buying rate climbed 21 cents to $90.57 with dealers buying C$1,055,161, and selling C$1,040,220, at an average rate that remained unchanged at $92.62. The rate for buying the British Pound dropped $1.04 to $175.24 for the purchase of £1,068,882, while £726,396 was sold, at an average rate of $177.48, down by 44 cents. At the end of trading it took J$131.77 to purchase the Euro, 35 cents more than on Thursday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.28 for 34 cents over the rate on Thursday. Other currencies bought, amounted to the equivalent of US$402,706 while the equivalent of US$146,908, was sold. Highs & Lows| The highest buying rate for the US dollar and the lowest buying rates remained at $115.90 and $94.52 respectively. The highest selling lost 11 cents to $121.12. The lowest selling rate fell 66 cents to $94.36. The highest buying rate for the Canadian dollar fell $1.68 to $92.32, the lowest buying rate dipped 92 cents to $73.12. The highest selling rate rose 12 cents to $95.56 and the lowest selling rate lost $1.10 to $88.10. The highest buying rate for the British Pound, dropped 74 cents to $177.76. The lowest buying rate climbed 21 cents to $142.97, the highest selling rate dropped $2.14 to $181.90 and the lowest selling rate was up 25 cents to $172.25. […]