J$ performed surprisingly well in November

The Jamaican dollar closed out November almost where it opened against the US dollar, but made modest gains on the Pound and the Canadian dollar. On the last day of October, dealers sold the US dollar for an average of J$119.83 but by the end of the month it was selling for only 10 cents more at J$119.93.
The local currency did even better against the British Pound and the Canadian dollar by gaining $2.43 on the Canadian to end J$88.15 and $2.77 versus the Pound to end at J$179.81. In the foreign exchange market on the first day of December, purchasing by dealers was much less than the funds they sold, with dealers buying nearly US$10 million less than they sold. The equivalent of US$30,303,656 was purchased and the equivalent of US$40,066,275 was sold, compared with US$44,621,458 they purchased and US$41,429,650 sold on Monday.In US dollar trading , dealers bought US$26,764,918 compared to US$40,585,146 on Monday. The buying rate for the US dollar gained 1 cent to $119.26 and US$37,677,186 was sold versus US$39,341,893 on Monday, the selling rate fell 2 cents to $119.91. The Canadian dollar buying rate rose 7 cents to end at $86.88 with dealers buying C$1,576,598 and selling C$829,322, at an average rate that climbed 14 cents to $88.29 The rate for buying the British Pound declined 65 cents to $176.36 for the purchase of £1,502,604, while £1,029,169 was sold, with the rate falling 58 cents to $179.23. At the end of trading, it took J$126.67 to purchase the Euro, a fall of 43 cents from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$124.05 for a decline of 61 cents from Monday’s rate. The US dollar equivalent of other currencies traded, amounts to US$168,137 being bought, while US$240,286 was sold.
Highs & Lows| On Tuesday, the highest buying rate for the US dollar fell 15 cents to $120.10 while the lowest buying and the highest Canadian dollar gained $1.23 to end at $90.83, the lowest buying rate remained at $71.38, the highest selling rate inched up 6 cents to $92.08 and the lowest selling rate gained 50 cents to $85. The highest buying rate for the British Pound, increased by $1.02 to end at $181.42. The lowest buying rate held at $144.59, the highest selling rate dipped $1.11 to $186.39 and the lowest selling rate rose 70 cents to $173.70.