Jam$ loses value all round – Monday

Trading in the Jamaican foreign exchange market rose on Monday, from Friday levels and well above trading on the prior Monday when only $27.6 million was purchased. Monday ended with dealers buying the equivalent of US$43,368,650 and selling US$39,093,223, compared with US$29,100,279 purchased and US$26,283,796 sold on Friday.
In US dollars trading, dealers bought US$38,895,652 compared to US$26,956,579 on Friday with the buying rate for the US dollar rising 4 cents to $120.42. A total of US$37,043,813 was sold versus US$25,059,286 on Friday as the selling rate climbed by 6 cents to $121.11. The Canadian dollar buying rate gained $1.46 to end at $82.91 with dealers buying C$2,285,181 and selling C$1,484,552, at an average rate that rose 28 cents to $84.87. The rate for buying the British Pound climbed $1.41 to $169.73 for the purchase of £1,835,997, while £520,136 was sold, with the rate gaining 47 cents to $170.63. At the end of trading the sale of the Euro, ended with a gain of 2 cents at J$131.03, from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.35 for a fall of 42 cents from Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$311,814 being bought, while US$276,301 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at are, a rise of $1.42 in the lowest buying rate of the British Pound, to end at $138.20 and a fall in the lowest selling rate of $1.55 to $163.75.