J$ make gains on Monday

Trading of foreign currencies in Jamaica’s foreign exchange market saw US$7 million more funds flowing into the market than the amount sold on Monday with US$40 million flowing in and US$33 million going out, but the rate for the Jamaican dollar improved against the US. At the close of trading, the equivalent of US$40,009,733 was bought by dealers, compared with US$74,102,619 on Friday, while they sold the equivalent of US$32,908,156 versus US$70,842,428 previously.
In US dollar trading , dealers bought US$36,075,775 compared to US$70,625,695 on Friday. The buying rate for the US dollar fell 51 cents to $119.19 and US$30,594,536 was sold versus US$69,232,581 on Friday, the selling rate declined 8 cents at $119.86. The Canadian dollar buying rate rose 19 cents to end at $87.45 with dealers buying C$2,703,962 and selling C$1,099,742, at an average rate that gained 18 cents to $88.91. The rate for buying the British Pound fell $2.69 to $177.43 for the purchase of £1,199,910, while £888,548 was sold, with the rate falling $1.42 to $180.87. At the end of trading, it took J$127.97 to purchase the Euro, a fall of 78 cents from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$125.80 for a decline of 54 cents from Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$163,874 being bought, while US$157,098 was sold.
Highs & Lows| On Monday, the highest buying rate for the US dollar lost 2 cents to $120.10, the lowest buying and the lowest selling rates each remained at $98.57. The highest selling rate rose 11 cents to $126.42. The highest buying rate for the Canadian dollar gained 55 cents to end at $90.30, the lowest buying rate fell 25 cents to $71.63, the highest selling rate eased 32 cents to at $92.34 and the lowest selling rate ended lower by 60 cents to $85.40. The highest buying rate for the British Pound, lost 20 cents to end at $181.80. The lowest buying rate closed 16 cents lower at $145.67, the highest selling rate jumped $2.15 to $187.78 and the lowest selling rate dropped $2.50 to end at $173.50.