The Jamaica dollar continued to trade below the $128 mark to buy one US dollar, in foreign exchange trading on Wednesday, for the second time since the close of 2016.
Dealers sold US$48.45 million at $127.90 at the close of trading up from US$46.05 on Tuesday at a rate of $127.97. US currency purchases, amounted to US$45.61 million on Wednesday, at an average rate of $126.96 compared to Tuesday with US$48.11 million at $127.01.
At Midday, the selling rate of the US dollar was $127.85, with US$12 million being sold, versus $127.78 on Tuesday midday with US$17.7 million being sold. In BOJ foreign exchange auction, 37 bids went after $10 million on offer, with bids totaling US$19.8 million, leading to the average rate falling to $127.75. The highest bid was $128.05 to buy $1 million and the lowest $125.05, to buy US$800,000.
Inflows of all currencies into Jamaica’s forex market fell to US$54.05 million, from US$58.13 million on Tuesday while dealers sold US$55.19 million versus US$52.98 million, previously.
The selling rate for the Canadian dollar fell to J$102.59 from J$103.78 at the close on Tuesday. The British Pound inched down to J$168.24 for buying the British currency versus J$168.87 on Tuesday and the euro rose in value against the Jamaican dollar, to J$150.94 to buy the European common currency, versus J$151.61 previously.
J$ stays below $128 to US$
October 18, 2017 by
