J$ makes gains on Friday

Purchases by dealers of foreign currencies on Friday, resulted in the Jamaican currency gaining value against the British Pound, the Canadian and the US. The market closed with dealers buying the equivalent of US$34,870,069 in contrast to US$33,887,651 on Wednesday, while they sold the equivalent of US$29,135,013, previously US$$39,804,866. The market was closed on Thursday, the country’s independence day.
In US dollar trading , dealers bought US$31,870,265 compared to US$31,012,046 on Wednesday. The buying rate for the US dollar rose 11 cents to $116.64 and US$27,464,923 was sold versus US$38,461,884 on Wednesday, the selling rate fell 2 cents to $117.36. The Canadian dollar buying rate declined 70 cents to $86.73 with dealers buying C$1,062,270 and selling C$651,724, at an average rate that fell 44 cents to $88.90. The rate for buying the British Pound dropped $1.23 to $179.31 for the purchase of £1,246,745, while £641,270 was sold, at an average rate that fell 50 cents to $182.18. At the end of trading, it took J$127.56 to purchase the Euro, with a fall of $1.11 from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$124.73 for a fall of $1.42 from Wednesday’s rate. Other currencies bought, amounted to the equivalent of US$293,253, while the equivalent of US$180,980 was sold.
Highs & Lows| The highest buying rate for the US dollar, gained 5 cents to $117.60, the lowest buying, the highest and the lowest selling rates remained at $96.15, $123.21, and $96.15 respectively. The highest buying rate for the Canadian dollar dropped $7.65 to $89.45. The lowest buying rate eased 34 cents to $70.63, the highest selling rate fell $2.30 to $93.50 and the lowest selling rate declined 50 cents to $86. The highest buying rate for the British Pound, rose 70 cents to $184.10, the lowest buying rate inched up 16 cents to $147.49, the highest selling rate rose 22 cents to $190.14 and the lowest selling rate dropped $1.55 cents to $177.45.