Ja$ falls with US$3.7m surplus – Tuesday

The Jamaican foreign exchange market had a rare day in recent times of net outflows of all currencies on Tuesday, with a deficit of $5 million, as outflows of Canadian dollars ran at the equivalent of US$13.8 million while just US$2.4 million entered the market. Trading volume in the overall market picked up from the low levels on Monday.
At the close of trading, the Jamaican dollar’s selling rate, gained value against the British Pound and the euro but fell against the US and Canadian dollar.
At the end of trading, the equivalent of all currencies bought by dealers amounted to US$38,210,042, while US$43,422,027 was sold compared to only US$19,607,620 purchased and US$14,261,893 sold on Monday.
In US dollar trading, dealers bought US$32,905,929 compared to US$16,934,844 on Monday. The buying rate for the US dollar rose by 81 cents to close at $127.75. A total of US$29,180,000 was sold versus US$13,040,458 on Monday, with the selling rate rising 7 cents to end at $128.52. The Canadian dollar buying rate jumped $3.20 to $96.55, with dealers buying C$3,182,145 and selling an unusually large amount of C$18,031,744 at an average rate that climbed $1.11 to $98.34. The average rate for buying the British Pound climbed $2.89 to $157.15 for the purchase of £1,831,649 while £269,462 was sold at a rate that dipped $1.05 to end at $157.15.
At the end of trading, dealers sold €96,396 as the selling rate for the Euro, closed at $143.08 for fall of $1.52 from Monday’s rate, according to data from Bank of Jamaica. Dealers purchased €579,882 of the European common currency at $142.29 after rising $2.89 from the rate on Monday. The US dollar equivalent of other currencies traded, amounts to US$19,110 being bought and selling of US$13,978.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies in the foreign exchange market on Tuesday, include a rise of $1.09 in the highest buying rate of the US Dollar to end at $129. The highest selling rate of the Canadian dollar fell $1.08 to $100.98. The highest buying rate of the British Pound dropped $10.13 to $160.27, the lowest buying rate dived $8.72 to $127.82, the highest selling rate dived $11.34 to $166.32 and the lowest selling rate sank $8.50 to $153.50. Trading in the Euro resulted in a fall of $2 in the highest buying rate to $143, the highest selling rate dropped $5.45 to $144.40 and the lowest selling rate surged $23.47 to $138.