Jamaican$ gains on US$ – Tuesday

Trading in the foreign exchange market resulted in the Jamaican dollar making gains against the US dollar but declining versus the Pound and Canadian dollar on Tuesday. The market closed with dealers buying the equivalent of US$64,271,438 and selling US$51,490,582, in contrast to US$35,981,243 purchased and US$43,831,621 sold on Thursday.
In US dollars trading, dealers bought US$59,240,425 compared to US$33,415,921 on Thursday, as the buying rate for the US dollar fell 8 cents to end at $121.25. A total of US$49,386,062 was sold versus US$42,481,290 on Thursday, the selling rate dipped 6 cents to end at $121.97. The Canadian dollar buying rate rose 27 cents to end at $88.84 with dealers buying C$2,153,879 and selling C$1,058,914, at an average rate that was up by 53 cents to $91.33. The rate for buying the British Pound climbed by $2.21 to $170.12 for the purchase of £2,075,842, while £552,137 was sold, as the rate rose 87 cents to $171.34. At the end of trading, the selling rate for Euro, fell 12 cents to close at J$136.23, from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$133.41 for a fall of 12 cents from Thursday’s rate. The US dollar equivalent of other currencies traded, amounts to US$540,471 being bought, while US$535,998 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at on Tuesday are, a fall of $2.37 in the lowest selling rate of the US dollar to $99.78, the highest buying rate of the Canadian dollar rose by $2.25 to $94.50 while the lowest selling rate rose $3.80 to $87. There was a rise of $2.10 in the highest buying rate for the British Pound to $174.90 and a big drop of $17.75 in the lowest selling rate to end at $146.75.