Chart showing the Jamaican dollar could go back to 120 to US dollar in 2018.
The rate for exchanging the Jamaican dollar against the US dollar, slipped a bit more in foreign currency trading on Monday, with total inflows of all foreign currencies exceeding sales by nearly US$12 million.
The public bought the US dollar at $125.48 as dealers sold US$44.94 million in US currency, compared US$33.37 million at an average rate of $125.49 on Friday. US currency purchases by dealers, amounted to US$53.17 million on Monday, at an average rate of $124.27, compared to Friday, with US$32.42 million at $124.22.
On Monday at midday dealers purchased US$22.86 million at an average rate of J$124.85 and sold US$13.55 million at an average of J$125.29. At mid-day on Friday dealers purchased US$10.65 million at an average rate of J$124.97 while they sold US$7.6 million at an average of J$125.27.
Dealers’ purchased US$60.12 million, versus US$35.66 million on Friday in all currencies in Jamaica’s Forex market and sold US$48.49 million compared with US$35.51 million sold, previously.
The selling rate for the Canadian dollar rose to J$97.53 from J$97.02 at the close on Friday. The selling rate for the British Pound dropped to J$166.83 versus J$167.01 previously and the euro rose in value against the Jamaican dollar at J$148.46 to buy the European common currency, versus the prior selling rate of J$148.34.
