J$120 to US$ moved even closer

The selling rate for the Jamaican dollar moved 16 cents closer to $120 to the US dollar on Wednesday which is just over 1 percent away, but the public is buying the US dollar as high as J$124.12 in Wednesday trading.
Purchases by dealers of foreign currencies on Wednesday saw buying of the equivalent of US$26,434,145 in contrast to US$42,927,303 on Tuesday, while they sold the equivalent of US$32,677,054, previously US$39,419,041.
In US dollar trading , dealers bought US$23,310,357 compared to US$40,544,295 on Tuesday. The buying rate for the US dollar fell 14 cents to $117.68 and US$31,118,844 was sold versus US$37,654,298 on Tuesday, the selling rate rose 16 cents to close at $118.59. The Canadian dollar buying rate eased 5 cents to $86.86, with dealers buying C$667,523 and selling C$457,173, at an average rate that climbed 85 cents to $89.09. The rate for buying the British Pound gained 87 cents to $178.78 for the purchase of £1,669,615, while £710,537 was sold, at an average rate that rose $1.48 to end at $182.27. At the end of trading, it took J$132.46 to purchase the Euro, an increase of 40 cents on Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.81, a rise of $1.06 on Tuesday’s rate. Other currencies bought, amounted to the equivalent of US$94,758, while the equivalent of US$122,637 was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 15 cents to $119.30, the lowest buying rate inched up 8 cents to $96.86 and the highest selling rate added 11 cents to end at $124.12 and the lowest selling rate jumped $16.87 to $115.30. The highest buying rate for the Canadian dollar climbed $1.11 to $90.50, the lowest buying rate is up 42 cents to $70.97 and highest selling rate added $1.38 to end at $93, the lowest selling rate remained unchanged at $85. The highest buying rate for the British Pound, climbed 20 cents to $182.70, the lowest buying rate jumped $2.32 to $146.41, the highest selling rates leapt $3 to $188.75 and the lowest selling rates gained $2.40 to $176.