Jamaican$ continues to fall – Thursday

The buying and selling in the forex market on Thursday resulted in US$4 million more sold by dealers than the amount of the US currencies they bought, helping the selling rate of the US dollar to continue to gain on the Jamaican currency.
The foreign exchange market closed on Thursday, with dealers buying the equivalent in all currencies of US$27,777,238 and selling US$29,407,363, in contrast to US$28,619,820 purchased and US$35,807,387 sold on Wednesday
In US dollar trading, dealers bought US$23,605,085 compared to US$26,030,466 on Wednesday as the buying rate for the US dollar rose 3 cents to $124.95. A total of US$27,506,903 was sold versus US$34,136,160 on Wednesday with the selling rate rising 4 cents to $125.76. The Canadian dollar buying rate fell 18 cents to end at $95.36 with dealers buying C$1,028,909 and selling C$565,413, at an average rate that fell 52 cents to $97.99. The average rate for buying the British Pound climbed 87 cents to $179.16 for the purchase of £1,422,254, while £760,559 was sold, with the rate falling 29 cents to $181.65.
At the end of trading, the selling rate for Euro, rose 60 cents to close at J$143.24 from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$140.20, for a rise of 83 cents on Wednesday’s rate. The US dollar equivalent of other currencies traded amounts to US$1,347,544 being bought, while US$361,373 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates for the Jamaican dollar in the foreign exchange market on Thursday, include, a rise of $1 in the highest buying rate of the Canadian Dollar to $100.50 and a rise of $2.80 in the lowest selling rate to $90, while the highest buying rate for the British Pound eased by $1.25 to $183, the highest selling rate rose $2.19 to $189.65 and the lowest selling rate dropped $3 to $172.