Jam$ fell on Wednesday

Inflows of foreign currencies into the system on Wednesday fell to US$8 million less than the amount sold with the local dollar selling rate losing value against all three main counterpart currencies. At the close of trading, the equivalent of US$23,243,562 was bought by dealers, compared with US$40,302,311 on Tuesday, while they sold the equivalent of US$31,032,571 versus US$44,817,449 previously.
In US dollar trading , dealers bought US$20,431,186 compared to US$36,133,874 on Tuesday. The buying rate for the US dollar fell 26 cents to $119.04 and US$29,085,477 was sold versus US$43,506,926 on Tuesday, the selling rate rose 2 cents to $119.82. The Canadian dollar buying rate fell 30 cents to $87.32 with dealers buying C$910,612 and selling C$644,536, at an average rate that rose $1.08 to $89.80. The rate for buying the British Pound gained $1.73 to $179.45 for the purchase of £1,267,917, while £803,437 was sold, at an average rate that grew $3.43 to $182.23. At the end of trading, it took J$128.11 to purchase the Euro, a fall of 62 cents from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$125.66 for a decline of 45 cents from Tuesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$232,995 being bought, while US$242,148 was sold.
Highs & Lows| On Wednesday, the highest buying rate for the US dollar fell 10 cents to $120 and the lowest buying and the highest selling rates remained unchanged at $98.45 and $126.26 and lowest selling rate jumped $16.70 to end at $117. The highest buying rate for the Canadian dollar rose $1.88 to $92.38, the lowest buying rate closed 41 cents higher at $72.21, the highest selling rate gained 21 cents to end at $93.09 and the lowest selling rate declined $3 to $80.50. The highest buying rate for the British Pound, rose $1 to end at $181.50. The lowest buying rate rose 42 cents to $144.84, the highest selling rate eased $1.04 to $185.46 and the lowest selling rate fell 30 cents to $174.