The selloff of US dollars continued in forex market activities on Wednesday.
It cost dealers on average, 9 cents less in buying the US dollar than on Tuesday.
Inflows of all currencies into Jamaica’s forex market that rose to US$53.87 million on Wednesday, up from US$48.99 million on Tuesday. Dealers sold US$52.24 million versus US$51.71 million, previously.
US currency purchases, accounted for US$47.72 million on Wednesday at an average rate of $127.89 compared to Tuesday at US$40.33 million at $127.98. Dealers sold US$47.28 million at an average rate of J$128.58 versus J$128.87 for US$43.46 million previously. The selling rate for the US dollar is coming off from a peak of $131.31 on September 15, with the Jamaican dollar recovering 2 percent of its value since.
The selling rate for the Canadian dollar rose to J$103.43 from J$103.25 at the close on Tuesday. The British Pound climbed to J$168.53 for buying the British currency versus J$168.13 on Tuesday and the euro just rose in value against the Jamaican dollar, to J$153.48 to buy the European common currency, versus J$151.18 previously.
J$ revalues to $128.58 vs US$ – Wednesday
October 11, 2017 by