Jamaican$ gains value moderately – Monday

Trading in the foreign exchange market returned to normal levels on Monday, compared to Friday with a C$60 million sell off of the Canadian Dollar.
By the close of trading, the rate of exchange to buy the US dollar by the public, fell on Monday to $126.58 as dealers sold US$41.70 million of the US dollar, compared to US$24.76 million at an average rate of $126.64 on Friday.
US currency purchases amounted to US$43.65 million on Monday, at an average rate of $125.55 compared to Friday, with US$28.39 million at $125.38.
Dealers’ purchased US$48.63 million, versus US$38.85 million on Friday in all currencies in Jamaica’s forex market and sold US$45.47 million compared with US$73.49 million of all currencies sold previously.
At Midday, dealers bought US$9.9 million at J$125.92 and sold US$4.3 million at J$126.74 compared to the purchase of US$9.6 million at J$125.96 and selling of US$8.9 million at J$126.78.
The selling rate for the Canadian dollar dipped to J$98.88 from J$99.99 at the close on Friday as the Canadian dollar dominated trading on Friday. The selling rate for the British Pound rose to J$167.27 versus J$166.43 on Friday and the euro gained value against the Jamaican dollar, to J$149.28 to buy the European common currency, versus J$148.11 previously.