Jam$ dips to close out year down

The Jamaican foreign exchange market trading activity on the last Thursday in 2015, fell below Wednesday’s levels with dealers selling more funds than they purchased. The value of the local currency slipped against its major counterpart currencies.
In trading dealers bought the equivalent of US$32,723,774 and sold US$42,295,648, compared with US$35,663,399 purchased and US$42,378,801 sold on Wednesday.
Sale of US dollars , exceeded the amount dealers bought by US$11 million as dealers bought US$29,243,474 compared to US$31,547,200 on Wednesday. The buying rate for the US dollar rose 3 cents to $119.64. A total of US$40,545,786 was sold versus US$40,319,564 on Wednesday as the selling rate rose 8 cents to $120.42. The Canadian dollar buying rate declined 27 cents to end at $83.28 with dealers buying C$1,528,540 and selling C$863,232, at an average rate that gained 15 cents to $84.91. The rate for buying the British Pound dropped 40 cents to $175.74 for the purchase of £1,513,957, while £686,125 was sold, with the rate rising $2.04 to $177.12. At the end of trading, it took J$131.34 to purchase the Euro, for a gain of 11 cents from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.58, rising 6 cents from Wednesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$192,608 being bought, while US$131,968 was sold.
Highs & Lows| The highest buying rate for US dollar rose 5 cents to $120.70, the lowest buying, the highest and lowest selling rates were unchanged at $98.61, $126.37 and $116 respectively. The Canadian dollar highest buying rate gained 30 cents to $86.80, the lowest buying rate rose 17 cents to $68.48. The highest selling rate declined by 65 cents to $88.85 and the lowest selling rate ended unchanged at $81.50. The highest buying rate for the British Pound, rose 16 cents to $179.16, the lowest buying rate remained unchanged at $142.84, the highest selling rate climbed $2.10 to $184.15 while the lowest selling rate rose 65 cents to $170.65.