Jamaican$ falls again – Tuesday

Trading in the Jamaican foreign exchange market on Tuesday resulted in the Jamaican dollar declining in value against the US dollar, following Monday’s decline with the selling rate ending at J$128.77 from J$128.68 previously.
Dealers bought the US currency at an average of J$127.36, versus J$127.23 on Monday. Trading ended with inflows of US$38.41 million compared to US$45.59 million on Monday with Bank of Jamaica is entitled to approximately 25 percent of the inflows or around $10 million of Tuesday’s intake. Outflows amounted to only US$35.70 million compared to US$30.40 million of all currencies on the prior trading day.
In USA dollar trading, inflows ended at US$ 31.76 million versus US$41.64 million on Monday with outflows of US$26.33 million compared to US$28.38 million.
The selling rate for the Canadian dollar climbed to J$104.44 from J$103.82 at the close on Monday while the British Pound was more costly, with J$167.23 buying the British currency versus J$166.02 and the euro, rose in value against the Jamaican dollar, with it jumping to J$156.41 to buy the European common currency, versus J$151.81 previously.