Jamaican$ gains in value – Wednesday

Bank of Jamaica had no trading data for the first trading day of 2017, for foreign exchange trading on Tuesday. On Wednesday, the central bank reported net inflows of US$14 million and an across the board increased value for the Jamaican dollar.
At the close of the market, dealers bought the equivalent of US$85,048,825 of all currencies and sold US$70,824,719, compared to US$49,393,835 purchased and US$48,140,699 sold on Friday.
In US dollar trading, dealers bought US$76,958,108 compared to US$41,924,249 on Friday. The buying rate for the US dollar lost 17 cents to close at $127.31. A total of US$64,143,542 was sold versus US$42,123,238 on Friday, with the selling rate declining by 10 cents to $128.34. The Canadian dollar buying rate fell $2.31 to $92.10, with dealers buying C$4,445,438 and selling C$5,022,483 at an average rate that eased 78 cents to end at $95.10. The average rate for buying the British Pound dipped $2.27 to $154.76 for the purchase of £3,651,060 while £1,884,689 was sold with a fall of 79 cents to end at $156.63.
At the end of trading on Wednesday, dealers sold €581,518 with the selling rate for the Euro, closing with a decline of 67 cents to $134.24, according to data from Bank of Jamaica. Dealers purchased €344,728 of the European common currency at $127.94 after gaining $1.82. The US dollar equivalent of other currencies traded, amounts to US$89,949 being bought and selling of US$25,989.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Wednesday, include a fall in the lowest selling rate of the US dollar by $16.88 to $103.12. A rise of $1.30 in the highest buying rate for the Canadian dollar to end at $97.50, while the highest selling rate rose $1.07 to $100.30. The highest buying rate for the British Pound gained $3.09 to $162.19, the highest selling rate climbed $1.08 to $166.32, while the highest buying rate for the Euro dived $1.50 to $132, the lowest buying rate declined by $1.49 to end at $107.07 and the lowest selling rate fell $7.86 to $114.14.