J$ moves to $120.42 to US dollar

The Jamaican foreign exchange market trading activity on the final Monday in 2015, fell well below Thursday’s levels with dealers buying almost $11 million less than they sold, as the value of the local currency slipping further against the US dollar. The inflows of funds into the market were unusually low for this time of the year, the closure of some businesses for the holiday may account for it.
Dealers bought the equivalent of US$31,609,960 and sold US$32,521,826, compared with US$34,740,726 and US$44,288,308 respectively on Thursday.
Sale of US dollars , exceeded the amount dealers bought by US$2.7 million. Dealers bought US$28,536,776 compared to US$32,213,491 on Thursday. The buying rate for the US dollar fell 25 cents to $119.45. A total of US$31,277,510 was sold versus US$42,468,505 on Thursday as the selling rate rose 7 cent to $120.42. The Canadian dollar buying rate fell by 37 cents to end at $82.75 with dealers buying C$1,131,418 and selling C$1,198,716, at an average rate that rose 63 cents to $87.01. The rate for buying the British Pound climbed by $1.03 to $176.48 for the purchase of £1,470,687, while only £150,953 was sold, with the rate falling 89 cents to $177.24. At the end of trading, it took J$131.88 to purchase the Euro, for a rise of 96 cents from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.21, rising by 80 cents from Thursday’s rate. The US dollar equivalent of other currencies traded, amounts to US$116,372 being bought, while US$156,024 was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 5 cents to $120.70, the lowest buying, the highest and lowest selling rates were unchanged at $98.70, $126.47 and $116, respectively. The highest buying rate for the Canadian dollar dropped $1.75 to $86.45, the lowest buying rate fell 20 cents to $68.61. The highest and lowest selling rates remained at $90 and $80.50 respectively. The highest buying rate for the British Pound, jumped $4.10 to end at $182.80. The lowest buying, the highest and the lowest selling rates were unchanged at $142.84, $184.15 and $170.70 respectively.
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