Jam$ starts 2016 with gains

The Jamaican foreign exchange market trading activity on the last percent in 2015, fell below Thursday’s levels with dealers selling more funds than they purchased. The value of the local currency slipped against its major counterpart currencies.
In trading dealers bought the equivalent of US$44,360,218 and sold US$40,052,989, compared with US$32,723,774 purchased and US$42,295,648 sold on Thursday. Sale of US dollars , was almost equal to the amount purchased with dealers buying US$39,298,993 compared to US$29,243,474 on Thursday. The buying rate for the US dollar slipped 10 cents to $119.54. A total of US$38,905,100 was sold versus US$40,545,786 on Thursday as the selling rate declined by 5 cents to $120.37. The Canadian dollar buying rate declined 57 cents to end at $82.71 with dealers buying C$2,074,068 and selling C$741,397, at an average rate that gained 36 cents to $85.27. The rate for buying the British Pound dropped $2.61 to $173.12 for the purchase of £1,343,622, while £328,665 was sold, with the rate rising $1.49 to $175.63. At the end of trading, it took J$130.81 to purchase the Euro, for a decline of 53 cents from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.02, for a fall of 56 cents from Thursday’s rate. The US dollar equivalent of other currencies traded, amounts to US$1,680,259 being bought, while US$143,150 was sold.
Highs & Lows| The highest buying rate for US dollar, the lowest buying and the highest selling rates were unchanged at $120.70, $98.61 and $126.37 respectively but for some inexplicable reason the lowest selling rate plummeted by $78 to only $38. The Canadian dollar highest buying rate declined by 30 cents to $86.50, the lowest buying rate ended unchanged at $68.48. The highest selling rate declined by 7 cents to $88.78 and the lowest selling rate slipped 50 cents to end at $81. The highest buying rate for the British Pound, declined $1.36 to $177.80, the lowest buying and the highest selling rates remained unchanged at $142.84 and $184.15 respectively while the lowest selling rate nosedived by $94.65 to $76.