Jamaica dollar lost more ground – Monday

The Jamaican dollar rose by just 3 cents from Friday’s closing selling rate to rise above the J$125 mark, to the United States currency and sitting just below the 126 mark, in foreign exchange trading on Monday, but the buying rate inched higher by 10 cents.
Inflows of all currencies, totaled US$47.61 million, versus US$34.93 million on Friday with the selling of US$45.59 million in contrast to US$38.39 million on Friday.
In US dollar trading, dealers sold US$43.03 million at an average of $125.78 at the close, compared to US$36.42 million at an average of $125.75 on Friday. US currency purchases by dealers, amounted to US$43.49 million at an average of $124.26 at the close, compared to US$31.36 million at an average of $124.16.
At mid-day on Monday dealers purchased US$23.32 million at an average rate of J$124.69 and sold US$22.18 million at an average of J$125.82. On Friday at midday dealers purchased US$7.32 million at an average rate of J$124.25 and sold US$9.22 million at an average of J$125.88.
The selling rate on Monday, for the Canadian dollarrose to J$100.76 from J$99.38 at the close on Friday, the selling rate for the British Pound dropped to J$174.75 from J$176.86 previously and the euro climbed in value against the Jamaican dollar at J$157.06 to buy the European common currency, versus the prior selling rate of J$154.44.