Jamaican$ hits 127 to US$ – Friday

The Jamaican dollar continue the recent decline in value against the United States dollar on Friday ending with a rise of 18 cents just over J$127 to the US dollar.
The rate for buying the US dollar by dealers jumped by 58 cents above Thursday’s rate.
Inflows of all currencies, totaled US$54.17 million, versus US$44.56 million on Thursday with the selling of US$44.95 million in contrast to US$37.54 million on Thursday.
In US dollar trading, dealers sold US$43.56 million at an average of $127.02 at the close, compared to US$33.52 million sold at an average of $126.80 on Thursday. Purchases of the US currency by dealers, amounted to US$51.60 million at an average of $125.77 at the close, compared to US$38.30 million at an average of $125.19.
At mid-day on Friday dealers purchased US$26.14 million at an average rate of J$126.23 and sold US$17.86 million at an average of J$126.86. On Thursday at midday dealers purchased US$11.01 million at an average rate of J$125.66 and sold US$7.28 million at an average of J$126.71.
The selling rate on Friday, for the Canadian dollar rose to J$99.78 from J$99.73 at the close on Thursday, the selling rate for the British Pound rose to J$177.51 from J$176.41 previously and the euro rose in value against the Jamaican dollar at J$158.71 to buy the European common currency, versus the prior selling rate of J$157.74.
For the week, dealers purchased US$185 million in all currencies, up from $179 million in the previous week and sold USS167 million, down from US$181 million sold in the prior week.