Jam$ falters in FX trading – Friday

Bolstered by US$30 million injection by Bank of Jamaica, dealers bought the equivalent of US$62,281,233 of all currencies, on Friday and sold US$50,300,502, compared to US$23,415,898 purchased and US$27,626,314 sold on Thursday. Trading resulted in a moderate fall in the value of the Jamaican dollar versus the US dollar and made gains in the other major currencies.
In US dollar trading, dealers bought US$57,960,736 compared to US$20,369,097 on Thursday. The buying rate for the US dollar rose 61 cents to close at $128.77. A total of US$48,096,845 was sold versus US$24,442,485 on Thursday, with the selling rate rising 4 cents to end at $129.19. The Canadian dollar buying rate dropped 43 cents to $95.71, with dealers buying C$1,997,479 and selling C$1,328,368 at an average rate that declined 73 cents to $97.35. The average rate for buying the British Pound dropped 62 cents to $155.04 for the purchase of £2,111,519 while £762,617 was sold at a rate that fell 57 cents to end at $157.53.
At the end of trading on Friday, dealers sold €72,429 with the selling rate for the Euro, closing at $141.26 for fall of $3.75, according to data from Bank of Jamaica. Dealers purchased €85,219 of the European common currency at $136.36 after rising 49 cents. The US dollar equivalent of other currencies traded, amounts to US$203,218 being bought and selling of US$193,580.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies, in the foreign exchange market on Friday, include a drop of $14.71 in the lowest buying rate of the US Dollar to $90 and a plunge of $19.04 in the lowest selling rate to end at $104.71. The lowest selling rate for the Canadian dollar declined $1.50 to $93. The lowest buying rate for the British Pound fell $1.66 to $127.16. The highest selling rate dropped $2.16 to $165.46. Trading in the Euro resulted in a fall of $3.25 in the highest buying rate to $139.50 and the lowest selling rate fell $2 to $135.