Bank of Jamaica’s intervention in the forex market last Thursday, continued to affect forex trading on Monday, leaving dealers with US$14 million surplus between Thursday and Monday.
In the three days period they bought US$23 million more of all currencies, than the sold. In today’s trading the Jamaican currency appreciated against all three major currencies that trading takes place in. On Monday, dealers bought the equivalent of $42,467,751 versus US$34,345,235 on Friday and sold the equivalent of US$33,244,982 compared to US$27,608,212 sold on Friday.
In US dollar trading, dealers bought US$37,691,477 compared to US$26,461,541 on Friday as the buying rate for the US dollar, fell 3 cents to $112.03 and sold US$31,281,273 versus US$22,353,327 on Friday, with the rate falling 6 cents to $112.62.
The Canadian dollar buying rate dropped $2.34 cents, to $102.24 with dealers buying C$1,153,328 and selling just C$666,699 as the rate declined 51 cents, to $104.82.
The Pound closed at $189.67, for the purchase of £1,763,030, the rate fell $1.61, while £559,580 was sold, with the rate declining by 52 cents, to $192.13. Other currencies bought, amounted to the equivalent of US$738,897 while selling was the equivalent of just US$388,590.
Highs & Lows| The highest rate for buying the US dollar, rose 10 cents to $113.10, the lowest buying rate was unchanged at $92.02 but the highest selling rate rose $4.09, to close at $122 and the lowest selling rate dropped $18.35 to $91.85.
The highest buying rate for the Canadian dollar fell by 85 cents, to $105.10 and the lowest buying rate fell 21 cents, to $83.62, the highest selling rate rose by 54 cents to $108.61 and the lowest settled at 25 cents lower at $100.75.
The highest buying rate for the British Pound, was up 75 cents to $193.75, while the lowest buying rate eased by 4 cents to $154.71 and the highest selling rate rose by $3.16 to $199.45, the lowest selling rate was down by 5 cents at $186.40.
J$ gains as BOJ intervention still impacts market
July 14, 2014 by
