Jam$ makes further gains on Monday

Inflows of foreign currencies into the system on Monday was US6 million less than the amount sold. With Friday’s $12 million surplus buying over the amounts sold, the local dollar enjoyed another day of increased value against the US and Canadian dollars. At the close of trading, the equivalent of US$40,933,885 was bought by dealers, compared with US$43,633,921 on Friday, while they sold the equivalent of US$46,854,604 versus US$31,659,241 previously.
In US dollar trading , dealers bought US$37,907,963 compared to US$38,585,883 on Friday. The buying rate for the US dollar fell 20 cents to $119.15 and US$44,708,029 was sold versus US$28,087,670 on Friday, the selling rate declined 5 cents to $119.80. The Canadian dollar buying rate lost 79 cents to $86.88 with dealers buying C$1,281,782 and selling C$753,334, at an average rate that dropped $1.40 to $88.54. The rate for buying the British Pound lost $2.04 to $178.92 for the purchase of £1,289,054, while £884,353 was sold, at an average rate that rose 61 cents to $183.11. At the end of trading, it took J$128.74 to purchase the Euro, a fall of $1.49 from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$126.28 for a decline of $1.52 from Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$155,674 being bought, while US$238,053 was sold.
Highs & Lows| On Monday, the highest buying rate for the US dollar fell 10 cents to $120 and the lowest buying rate remained unchanged at $98.45. The highest selling rate rose $1.77 to close at $126.15 and lowest selling rate lost $1.87 to end at $98.44. The highest buying rate for the Canadian dollar jumped $2.79 to $93.09, the lowest buying rate declined $1.03 to end at $71.80, the highest selling rate dropped $1.34 to end at $93.09 and the lowest selling rate rose $1.80 to $85.80. The highest buying rate for the British Pound, declined 28 cents to end at $183.05. The lowest buying rate slipped $3.32 to $144.42, the highest selling rate dropped $1.04 to $186.75 and the lowest selling rate lost $1 to $174.