Jamaican$ ends mixed – Wednesday

Net inflows of foreign exchange traded by authorized dealers, declined moderately, on Wednesday’s net flows ended with the equivalent of just under US$1 million more sales than purchases leaving the surplus since the end of June to US$94 million.
In Wednesday’s trading, dealers bought US$33,586,589 while they sold US$34,833,179, compared to US$43,327,457 purchased and US$42,722,998 sold on Tuesday of all currencies, as the value for the Jamaican dollar fell slightly against the US dollar and the Canadian dollar but gained versus the Pound.
In US dollar trading, dealers bought more US dollars than they sold with buying amounting to US$28,209,694 compared to US$38,551,129 on Tuesday. The buying rate for the US dollar gained 1 cent to $125.75. A total of US$27,002,488 was sold versus US$37,840,792 on Tuesday, with the selling rate rising 7 cents to end at $126.47. The Canadian dollar buying rate rose 42 cents to end at $95.08, with dealers buying C$3,504,810 and selling C$6,590,709, at an average rate that rose 37 cents to $97.46. The average rate for buying the British Pound fell 54 cents to $162.75 for the purchase of £1,335,223, while £350,622 was sold to end at $165.43, with a fall of 21 cents.
At the end of trading, the selling rate for the Euro, declined 51 cents to close at J$139.55 from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$133.71 for a rise of $1.75. The US dollar equivalent of other currencies traded amounts to US$998,812 being bought, while US$2,292,849 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Wednesday, include, a drop of $19.18 in the lowest selling rate of the US dollar to close at $103.32. There was a decline of $1.57 in the highest buying rate of the Canadian Dollar to $96.03, a fall of $1, in the lowest selling rate to $89 while trading in the British Pound resulted in a gain of $6.80 in the lowest selling rate to end at $160.80.