Jamaican$ loses ground – Friday

Trading in the foreign exchange market resulted in the Jamaican dollar losing value against the three major currencies it normally trades. The market closed with dealers buying the equivalent of US$30,677,839 and selling US$37,524,758, in contrast to US$29,004,952 purchased and US$30,796,524 sold on Thursday.
In US dollars trading, dealers bought US$27,717,738 compared to US$26,385,923 on Thursday, as the buying rate for the US dollar lost 1 cent to end at $121.33. A total of US$35,846,874 was sold versus US$29,540,365 on Thursday, the selling rate rose by 4 cents to $122.08. The Canadian dollar buying rate declined 8 cents to end at $90.77 with dealers buying C$1,231,134 and selling C$738,178, at an average rate that rose by 21 cents to $92.88. The rate for buying the British Pound fell $1.12 to $167.81 for the purchase of £858,779, while £264,854 was sold, as the rate rose 31 cents to $169.68. At the end of trading, the selling rate for Euro, rose 12 cents to close at J$138.91, from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$136.03 for a rise of 10 cents on Thursday’s rate. The US dollar equivalent of other currencies traded, amounts to US$851,288 being bought, while US$748,168 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at on Friday are, a jump of $23.40 in the lowest selling rate of the US dollar to $118, a rise of $1.05 in the highest buying rate of the Canadian dollar to $94. The highest buying rate for the British Pound rose $1.40 to $173.50, while the highest selling rate dipped $2.32 to end at $177.50.