Jamaican$ gains more ground

Authorised and Cambios dealers sold the United States dollar on Tuesday for less Jamaican dollars than they did on Monday as well as on Wednesday.
On Tuesday, they sold US$36.57 million at an average rate of $128.89, 4 cents lower than on Monday and on Wednesday they sold US$42.62 million at $128.81, the lowest for the Month. The latest movement of the local currency, continues a daily rise in value since the start of June, with the exception of one day.
The traded selling rate for the United States dollar is still some distance off from the lowest amount of Jamaican dollar required to purchase one US dollar of JS$127.93 reached on February 13, this year.
Dealers bought the United States currency at an average of J$128.25 on Tuesday and at 128.16 on Wednesday. The Canadian dollar was sold to the public at 26 cents less than on Tuesday while the British Pound and the Euro selling price rose by JS$2.16 each.
Overall, total foreign exchange of all currencies entering the market totaled US$60.92 million on Tuesday with US$45.76 million sold and on Wednesday the equivalent of US$57.39 was bought by dealers and US$51.32 was sold. In US dollar trading US$52.17 was bought on Tuesday with US$36.57 being sold while Wednesday saw buying of US$49.53 with selling of US$42.62.