Dealers in the forex market who bought over US$18 million more than they sold between Tuesday and Thursday, bought US$6 million more than they sold on Friday in all currencies but the local currency selling rate increased for the fifth consecutive day.
The foreign exchange market closed on Friday, with dealers buying the equivalent of US$52,840,212 and selling US$46,464,311, in contrast to US$73,223,739 purchased and US$69,222,068 sold on Thursday.
In US dollar trading, dealers bought US$49,322,500 compared to US$70,329,703 on Thursday, as the buying rate for the US dollar declined by 3 cents to $124.94. A total of US$43,765,413 was sold versus US$67,424,252 on 
Thursday with the selling rate slipping 2 cents to $125.44. The Canadian dollar buying rate rose $1.15 to end at $93.98 with dealers buying C$1,046,871 and selling C$1,519,791, at an average rate that climbed by 15 cents to $96.45. The rate for buying the British Pound climbed $1.29 to $180.43 for the purchase of £1,830,846, while £930,183 was sold, with the rate gaining $1.49 to $183.76.
At the end of trading, the selling rate for Euro, rose 51 cents to close at J$140.28 from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$137.67, for a rise of 69 cents on Thursday’s rate. 
The US dollar equivalent of other currencies traded amounts to US$86,371 being bought, while US$167,726 was sold.
Highs & Lows| Notable changes to the highest and lowest rates, the Jamaican dollar traded at, in the foreign exchange market on Friday, include, a rise of $2.65 in the lowest selling rate of the US dollar to $104.14, a rise of $1.40 in the highest buying rate of the Canadian Dollar to $98.40 and a fall of $1 to $76.36 in the lowest buying rate, while the British Pound enjoyed a $3 rise in the lowest selling rate to $175.
J$ loses ground on Friday
May 27, 2016 by
