Jamaican$ gains vs US on Monday

The Jamaica dollar gained against the United States currency at the close of trading on Monday even as inflow was US$2.5 million more than the amount sold. The local dollar lost ground against the Pound sterling as the British currency gained strength with public opinion polls suggesting voters will support the vote to remain in the euro zone.
The foreign exchange market closed with dealers buying the equivalent in all currencies, of US$50,161,179 and selling US$46,313,716, in contrast to US$38,700,842 purchased and US$33,005,652 sold on Friday.
In US dollar trading, dealers bought US$46,596,141 compared to US$35,609,042 on Friday as the buying rate for the US dollar fell 12 cents to $125.34. A total of US$44,081,167 was sold versus US$30,473,037 on Friday with the selling rate falling 4 cents to $126.03. The Canadian dollar buying rate rose 6 cents to end at $94.49 with dealers buying C$1,249,798 and selling C$650,444, at an average rate that gained 25 cents to $97.53. The average rate for buying the British Pound jumped $2.55 to $178.08 for the purchase of £1,730,533, while £820,742 was sold, with the rate climbing $1.97 to $179.60.
At the end of trading, the selling rate for Euro, jumped $1.37 to close at J$141.81 from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$139, for a rise of $1.31 on Friday’s rate. The US dollar equivalent of other currencies traded amounts to US$164,287 being bought, while US$559,556 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates for the Jamaican dollar in the foreign exchange market on Monday, include, a rise of 90 cents in the highest selling rate of the Canadian Dollar to $100.98, a rise of 85 cents in lowest selling rate to $92.50. The highest buying rate of the British Pound jumped $5.70 to $185.20, the lowest buying rate climbed $2.49 to $143.18 with the highest selling rate leaping $4.62 to $188.