Jamaican $ gains against all on Monday

With Bank of Jamaica having sold funds into foreign currency market twice last week, resulting in a moderate revaluation of the Jamaican dollar on the Friday, the local currency again had another day of revaluation on Monday as demand was less than supply. The equivalent of US$42,229,067 was bought by dealers on Monday, compared with US$47,260,818 on Friday, while they sold the equivalent of US$35,350,940 versus US$40,548,955 previously.
In US dollar trading , dealers bought US$38,757,520 compared to US$43,192,155 on Friday. The buying rate for the US dollar lost 22 cents to $119.05 and US$31,681,821 was sold versus US$37,422,844 on Friday, the selling rate fell 4 cents to end at $119.64. The Canadian dollar buying rate dropped $1.58 to end at $87.42, with dealers buying C$1,506,877 and selling C$3,632,689, at an average rate that declined by 29 cents to $91.93. The rate for buying the British Pound declined 99 cents to $180.37 for the purchase of £1,463,083, while £505,871 was sold, at an average rate that dropped 54 cents to $181.88. At the end of trading, it took J$132.04 to purchase the Euro, a drop of $1.53 from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.62 for a fall of $1.57 on Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$148,513 being bought, while US$108,653 was sold. Highs & Lows| On Monday, the highest buying rate for the US dollar ended with a rise of 10 cents, to $120 with the other rates remaining unchanged at $98.28 for the lowest buying rate ending, the highest selling rate at $125.94 and lowest selling rate at $98.28. The highest buying rate for the Canadian dollar dropped $3.10 to $90.40, the lowest buying rate declined by 33 cents to end at $72.21, the highest selling rate lost $1 to end at $93.50 and the lowest selling rate fell $2.10 to $84. The highest buying rate for the British Pound, dropped 55 cents to end at $183.35. The lowest buying rate fell 83 cents to $147.74, the highest selling rate rose $1.61 to $190.46 and the lowest selling rate climbed 70 cents to end at $177.20.