J$ slips against all on Wednesday

Purchases by dealers of foreign currencies on Wednesday, resulted in the Jamaican currency losing value against the three main currencies it regularly trades against, but the rate of the local currency has been relatively stable over the past two and a half weeks versus the United States dollar hovering around the $117.40 mark. The market closed with dealers buying the equivalent of US$34,248,600 in contrast to US$38,264,784 on Tuesday, while they sold the equivalent of US$42,427,499, previously US$50,151,893.
In US dollar trading , dealers bought US$31,335,438 compared to US$34,542,850 on Tuesday. The buying rate for the US dollar declined 8 cents to $116.78 and US$41,081,381 was sold versus US$47,644,632 on Tuesday, the selling rate increased 2 cents to $117.41. The Canadian dollar buying rate rose 50 cents to $88.03 with dealers buying C$1,355,970 and selling C$698,801, at an average rate that rose 18 cents to $89.93. The rate for buying the British Pound climbed 80 cents to $180.21 for the purchase of £1,076,904, while £460,885 was sold, at an average rate that climbed 59 cents to $182.60. At the end of trading, it took J$129.69 to purchase the Euro, with a rise of 82 cents on Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.17 for a rise of 81 cents on Tuesday’s rate. Other currencies bought, amounted to the equivalent of US$229,051, while the equivalent of US$94,152 was sold.
Highs & Lows| The highest buying rate for the US dollar, gained 6 cents to $117.55, but there were no changes to the lowest buying and the highest selling rates that remained at $96.15 and $123.21, respectively. The lowest selling rate gave up the $1.90 it gained the on the previous day, to end at $96.15. The highest buying rate for the Canadian dollar rose 90 cents to $90.30. The lowest buying rate rose 29 cents to $71.09, the highest selling rate gained just 10 cents to $93 and the lowest selling rate rose $1.40 to $86.90. The highest buying rate for the British Pound, fell 60 cents to $183.20, the lowest buying rate was unchanged at $146.25, the highest selling rate put on 86 cents to $189.39 and the lowest selling rate jumped $1.30 to $177.50.