US dollar trading in Jamaica’s foreign currency market declined on Wednesday with inflows falling below outflows with the rate to buy the US dollar by the public, slipping modestly the local dollar also gained against the other three major currencies.
On Wednesday, the Jamaican dollar rate the public bought the US dollar at, slipped to $125.91 as dealers sold US$43.18 million in US currency, down from US$61.50 million at an average rate of $125.94 on Tuesday. US currency purchases by dealers amounted to US$38.53 million on Wednesday, at an average rate of $124.73, compared to Tuesday, with US$66.68 million at $125.09.
On Wednesday at midday dealers purchased US$15.85 million at an average rate of J$125.30 while they sold US$11.25 million at an average of J$125.91.
At mid-day on Tuesday dealers purchased US$28.15 million at an average rate of J$125.39 while they sold US$13.70 million at an average of J$125.76.
Dealers’ purchased US$44.15 million, versus US$70.48 million on Tuesday in all currencies in Jamaica’s Forex market and sold just US$47.42 million compared with US$63.75 million sold, previously.
The selling rate for the Canadian dollar fell to J$98.72 from J$99.02 at the close on Tuesday. The selling rate for the British Pound slipped to J$168.42 versus J$168.81 previously and the euro fell in value against the Jamaican dollar at J$149.65 to buy the European common currency, versus prior selling rate of J$149.90.
Jamaican$ gains against all 4 currencies
December 6, 2017 by
