Dealers in the forex market who bought over US$8 million more than they sold on Tuesday bought another US$6 million more than they sold on Wednesday in all currencies but hey bought in US$4.5 million more than they sold in United States currency.
The foreign exchange market closed on Wednesday, with dealers buying the equivalent of US$47,426,389 and selling US$41,268,792, in contrast to US$88,926,675 purchased and US$80,478,200 sold on Tuesday.
In US dollar trading, dealers bought US$43,202,460 compared to US$84,018,742 on Tuesday, as the buying rate for the US dollar fell 19 cents to $124.78.
A total of US$38,669,562 was sold versus US$77,992,668 on Tuesday with the selling rate remaining unchanged at $125.42. The Canadian dollar buying rate rose 66 cents to end at $93.25 with dealers buying C$1,422,115 and selling C$1,968,258, at an average rate that climbed by 12 cents to $95.93. The rate for buying the British Pound rose $1.44 to $180.11 for the purchase of £2,141,432, while £687,061 was sold, with the rate gaining 12 cents to $181.01.
At the end of trading, the selling rate for Euro, dropped 67 cents to close at J$139.97, from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$137.38, for a fall of 66 cents on Tuesday’s rate. The US dollar equivalent of other currencies traded amounts to US$70,461 being bought, while US$102,157 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the Jamaican dollar traded at in the foreign exchange market on Wednesday, include, a jump of $18.26 in the lowest selling rate of the US dollar to end at $120, a fall of $1.10 in the highest selling rate to $98.40 for the Canadian dollar , a rise of $1.70 in the highest buying rate of the British Pound to $184.80, a rise of $1 in the lowest buying rate to end at $145.42, a rise of $1.30 in the highest selling rate for to $189.22 and an increase of $1 in the lowest selling rate to $173.
J$ stand still vs US on Wednesday
May 25, 2016 by
