Jamaican$ loses value all round – Tuesday

Trading in the Jamaican foreign exchange market rose slightly on Tuesday, from the prior Tuesday’s level of just $24.4 million that was purchased then. Trading ended with dealers buying the equivalent of US$27,137,018 and selling US$31,241,564, compared with US$43,368,650 purchased and US$39,093,223 sold on Monday.
In US dollars trading, dealers bought US$24,325,109 compared to US$38,895,652 on Monday with the buying rate for the US dollar rising 3 cents to $120.45. A total of US$28,696,289 was sold versus US$37,043,813 on Monday as the selling rate climbed by 10 cents to $121.21. The Canadian dollar buying rate fell 73 cents to end at $82.18 with dealers buying C$1,434,840 and selling C$2,283,416, at an average rate that rose $1.87 to $86.74. The rate for buying the British Pound dropped 64 cents to $169.09 for the purchase of £1,199,305, while £568,662 was sold, with the rate gaining 88 cents to $171.51. At the end of trading, the selling rate for Euro, ended with a gain of 16 cents at J$131.19, from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.49 for a rise of 14 cents from Monday’s rate. The US dollar equivalent of other currencies traded, amounts to US$149,383 being bought, while US$106,693 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at are, a rise of $1.55 in the lowest selling rate of the Canadian dollar that ended at $80.55 and British Pound, lowest selling rate falling $5.75 to $158.