Jamaican$ falters on Tuesday

The Jamaica dollar fell against the United States currency at the close of trading on Tuesday as inflows were US$7.2 million less than the amount sold. The local dollar lost ground against the Pound sterling as the British currency gained strength with public opinion polls continuing to suggest that British voters will vote in favour of remaining in the euro zone.
The foreign exchange market closed with dealers buying the equivalent of US$5.47 million in all currencies, less than the amount bought with a total of all currencies bought by dealers amounting to US$33,116,369 while they sold US$38,589,783, in contrast to US$50,161,179 purchased and US$46,313,716 sold on Monday.
In US dollar trading, dealers bought US$28,605,114 compared to US$46,596,141 on Monday as the buying rate for the US dollar rose 1 cent to $125.35. A total of US$35,845,081 was sold versus US$44,081,167 on Monday with the selling rate rising 9 cents to $126.12. The Canadian dollar buying rate rose 93 cents to end at $95.42 with dealers buying C$951,348 and selling C$451,839, at an average rate that fell 14 cents to $97.39. The average rate for buying the British Pound jumped $1.54 to $179.62 for the purchase of £1,862,762, while £872,119 was sold, with the rate climbing $4.43 to $184.03.
At the end of trading, the selling rate for Euro, jumped $1.07 to close at J$142.88 from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$139.97, for a rise of 97 cents on Monday’s rate. The US dollar equivalent of other currencies traded amounts to US$1,117,815 being bought, while US$1,123,172 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates for the Jamaican dollar in the foreign exchange market on Tuesday, include, a jump of $17.54 in the lowest selling rate of the US dollar to close at $120, a fall of $3.07 in the lowest buying rate of the Canadian Dollar to $73, a rise of $2.58 in the highest buying rate of the British Pound to $187.78. The lowest buying rate of the Pound climbed $3.73 to $146.91 with the highest selling rate leaping $3.16 to $191.16 and the lowest selling rate dropping $13.24 to $155.76.