Jamaican dollar slips slightly – Tuesday

Trading in the Jamaican foreign exchange market resumed on Tuesday after the holiday on Monday and resulted inflows of US$69.11 million in contrast to US$44.65 million on Friday and outflows of US$45.43 million compared to US$35.11 million of all currencies previously.
Approximately, 25 percent of the intakes are surrendered by dictates to Bank of Jamaica and would amount to $17 million, US$6 million less than the net inflows of US$23.68 million.
In USA dollar trading, inflows ended at US$60.09 million versus US$36.97 million on Friday, with outflows of US$39.85million compared to US$28.73 million.
The value of the Jamaican dollar slipped modestly in value against the US dollar, with the selling rate for the US dollar ending at J$128.28 from J$128.23 previously. Dealers bought the US currency at an average of J$127.21, versus J$127.17 on Friday.
The selling rate for the Canadian dollar slipped to J$102.02 from J$102.57 at the close on Friday, while the British Pound was less costly at the close, with J$167.15 buying the British currency versus J$167.81 and the euro, declined in value against the Jamaican dollar, with it taking J$151.31 to buy the European common currency , versus J$151.88 previously.