Trading in the foreign market on Monday resulted in more strengthening of the Jamaican dollar as US$43.91 million of the US dollar was sold by dealers at an average rate of $127.21 to the US dollar, compared to US$30.91 million at an average rate of $127.37 on Friday.
US currency purchases amounted to US$40.76 million on Monday, at an average rate of $126.14 compared to Friday, with US$31.74 million at $126.22.
Dealers purchased US$53.29 million, versus US$42.62 million on Friday in all currencies in Jamaica’s forex market and sold US$54.67 million compared with US$53.93 million previously.
At Midday, dealers bought US$22.9 million at J$126.81 and sold US$16.4 million at J$126.99 compared to the buying of US$10.97 million at J$126.67 and selling of US$5.9 million at J$127.24 at the same time on Friday.
The selling rate for the Canadian dollar rose to J$101.81 from J$99.73 at the close on Friday. The selling rate for the British Pound declined to J$165.89 versus J$166.41 on Friday and the euro fell in value against the Jamaican dollar, to J$147.64 to buy the European common currency, versus J$149.12 previously.
Jamaican $ gains against 3 majors – Monday
October 30, 2017 by