Jamaican$ heading to $127 band

The value of the Jamaican dollar continues to climb against the US dollar as it heads towards the JS$127 band, with the selling rate for the US dollar falling to J$128.16 from J$128.22 previously. Dealers bought the US currency at an average of J$127.48, up from JS$127.28 on Monday.
Inflows into the Jamaican foreign exchange market declined on Tuesday compared to the same day last week, but selling by dealers dropped compared to last week, resulting in no change to the net inflows compared to last week.
Dealers purchased US$45.6 million compared to US$46.2 million bought on Monday and sold US$37.4 million, of all currencies compared to US$30.4 million sold on previously. In USA dollar trading, inflows into the system ended at US$38 million versus US$39 million on Monday, while selling amounted to US$30.4 million versus US$25.8 million on the prior trading day.
The selling rate for the Canadian dollar rose to J$101.92 from J$101.55 at the close on Monday, while the British Pound was more costly at the close, with J$166.93 buying the British currency versus J$166.89 on Monday and the euro, lost value against the Jamaican dollar, with it taking J$146.46 to buy the European common currency on, versus Monday’s J$148.91.

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