Jamaica dollar back to 125 to US$

The Jamaican dollar closed trading made on the foreign exchange on Tuesday, at J$125.01 to the US dollar, with the selling rate falling by 32 cents, but the US dollar was sold as low as $124.62 by midday.
In US dollar trading, dealers sold US$43.52 million at a rate of J$125.01 at the close, compared to US$51.22 million at a rate of J$125.33 on Monday. Purchases of the US currency by dealers, amounted to US$47.36 million, with the average rate falling 35 cents to $123.95, compared to US$50.66 million at an average rate of $124.30 on Monday.
The market closed with inflows of all currencies, ending at US$53.17 million, versus US$60.68 million on Tuesday and dealers sold US$47.97 million in contrast to US$59.71 million, in previous trading activity.
At mid-day on Tuesday dealers purchased US$13.34 million at an average rate of J$124.45 and sold US$14.45 million at an average of J$124.62. In comparison at mid-day on Monday, dealers purchased US$28.59 million at an average rate of J$124.70 and sold US$15.95 million at an average of J$125.15.
The selling rate on Tuesday, for the Canadian dollar, declined to J$98.23 from J$98.63 at the close on Monday. The selling rate for the British Pound rose to J$175.41 from J$174.87 previously and the euro increased against the Jamaican dollar to J$156.99 to buy the European common currency, versus the prior selling rate of J$154.26.

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