The selling rate of US dollar rose against the Jamaican dollar by 4 cents on Wednesday, with the rate dealers bought the US dollar for, costing 50 cents more than the closing rate on Tuesday.
Bank of Jamaica auctioned US$20 million on Wednesday with the average clearing at $129.22 with US$47.65 million chasing the amount offered for sale. The lowest bid was at $128 and the highest $129.67 for US$1.5 million. The central bank in a notice has no auction set for the next three weeks up to the April 4.
On Wednesday, Inflows of all currencies, totaled US$67.64 million, versus US$51.28 million on Tuesday with the selling of US$49.54 million in contrast to US$52.40 million previously traded.
In US dollar trading, dealers sold US$47.86 million at an average of J$128.67, at the close, compared to US$49.13 million at an average of J$128.63 on Tuesday. Purchases of the US currency by dealers, amounted to US$64.72 million at an average of $128 at the close, compared US$46.72 million at an average of $127.50.
At mid-day on Wednesday dealers purchased US$33.63 million at an average rate of J$128.56 and sold US$15.67 million at an average of J$128.73. At mid-day on Tuesday dealers purchased US$19.38 million at an average rate of J$127.79 and sold US$18.11 million at an average of J$128.43.
The selling rate on Wednesday, for the Canadian dollar fell to J$98.30 from J$100.30 at the close on Tuesday, the selling rate for the British Pound slipped to J$175.08 from J$176.18 previously and the euro rose against the Jamaican dollar at J$157.14 to buy the European common currency, versus the prior selling rate of J$156.17.
Jam$ falls vs US & Euro gains over others
March 14, 2018 by
