Jamaican$ loses ground on Tuesday

Trading in the foreign exchange market resulted in the Jamaican dollar losing value against the three major currencies it is normally exchanged with. The market closed with dealers buying the equivalent of US$35,396,058 and selling US$38,476,966, in contrast to US$43,966,113 purchased and US$40,723,813 sold on Monday.
In US dollars trading, dealers bought US$31,090,615 compared to US$41,142,103 on Monday, as the buying rate for the US dollar added 1 cent to close at $121.34. A total of US$35,644,274 was sold versus US$39,587,492 on Monday, the selling rate gained 2 cents to $122.04. The Canadian dollar buying rate climbed $2.73 to end at $92.55 with dealers buying C$1,726,695 and selling C$1,936,183, at an average rate that rose $2.57 to $94.39. The rate for buying the British Pound rose $3.01 to $171.49 for the purchase of £2,034,614, while £764,663 was sold, as the rate jumped $2.79 to $172.40. At the end of trading, the selling rate for Euro, rose 37 cents to close at J$139.63, from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$136.75 for a rise of 42 cents on Monday’s rate. The US dollar equivalent of other currencies traded, amounts to US$112,783 being bought, while US$254,920 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at on Tuesday are, a rise of $18.22 in the lowest selling rate of the US dollar to $118, a rise of $1.85 in the highest buying rate of the Canadian dollar to $96.15, a $1.08 rise in the lowest buying rate to $74.70 with highest selling rate gaining $1.04 to $97.20 and the lowest selling rate climbing by $1 to $89.30. The lowest selling rate for the British Pound rose $1.70 to $139.23, while the highest selling rate climbed $2.21 to end at $181.17 and the lowest selling rate gained $2.60 to end at $166.20.