Jamaican$ holding firm – Monday

Trading in the foreign exchange market on Monday resulted in the Jamaican dollar declining slightly against the US dollar but holding firm versus Canadian dollar while slipping, compared to the closing rate on Friday, for the Pound. The market closed with dealers buying the equivalent of US$47,848,516 and selling US$41,089,504, in contrast to US$33,234,559 purchased and US$36,327,045 sold on Friday.
In US dollars trading, dealers bought US$42,244,916 compared to US$30,697,232 on Friday, as the buying rate for the US dollar fell 2 cents to close at $121.96. A total of US$34,358,438 was sold versus US$33,977,802 on Friday, the selling rate rose 1 cent to $122.68. The Canadian dollar buying rate jumped $3.04 to end at $95.97 with dealers buying C$2,945,603 and selling C$5,217,053, at an average rate that rose $1 to $98.65. The rate for buying the British Pound climbed $1.78 to $174.03 for the purchase of £2,205,859, while £1,504,411 was sold, as the rate rose $1.76 to $176.79.
At the end of trading, the selling rate for Euro, fell 56 cents to close at J$137.89, from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$135.05 for a fall of 60 cents from Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$137,980 being bought, while US$368,121 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates for the currencies on Monday are, a jump of $1.97 in the lowest selling rate of the US dollar to end at $101.84, a rise of $2 in the lowest selling rate of the Canadian dollar to $90, a rise of $1.10 in the highest buying rate for the British Pound to $178.30 and a fall of $2.50, in the lowest selling rate to $166.