Jamaican$ gains on Thursday

The selling rate of the Jamaican dollar gained against the three major international currencies on Thursday, with dealers buying the equivalent of US$3.4 million more than the amount they sold in all currencies, taking the surplus purchased in the last nine days to US$26 million, with the amount bought by dealers bringing in US$42,540,905 while they sold US$39,173,759, compared to US$36,409,528 purchased and US$38,432,327 sold on Wednesday.
In US dollar trading, dealers bought US$38,938,631 compared to US$34,179,993 on Wednesday as the buying rate for the US dollar rose 12 cents to $125.86. A total of US$36,995,002 was sold versus US$37,284,442 on Wednesday with the selling rate declining by 9 cents to end at $126.38. The Canadian dollar buying rate rose 52 cents to end at $94.12 with dealers buying C$954,725 and selling C$643,879, at an average rate that dropped 47 cents to $96.42. The average rate for buying the British Pound fell 6 cents to $160.79 for the purchase of £1,820,691, while just £911,188 was sold, with the rate dropping 54 cents to $162.33.
At the end of trading, the selling rate for Euro, declined by $1.20 to close at J$139.16 from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$138.40, for a rise of 86 cents from Wednesday’s rate. The US dollar equivalent of other currencies traded amounts to US$562,371 being bought, while US$517,190 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates for the Jamaican dollar in the foreign exchange market on Thursday include, a sharp jump of $19.30 in the lowest selling rate of the US dollar to close at $122.25, a fall of $1.60 in the lowest selling rate of the Canadian Dollar to $91.60. The highest buying rate of the British Pound gained $1 to $167, the lowest buying rate fell $1.66 to end at $130.31, the highest selling rate rose $1.53 to close at $173.25 while the lowest selling rate slipped $3 to end at $150.