The Jamaican dollar gained against the US and Canadian dollars as trading resumed fully in the foreign exchange market after the Monday when the country had partial closure due to Local Government elections. The local currency slipped against the Pound and the euro.
Over the two days to Tuesday dealers bought the equivalent of US$66,535,327 of all currencies and sold US$64,508,975, compared to US$43,223,641 purchased and US$46,444,892 sold on Friday.
In US dollar trading, dealers bought US$59,608,976 compared to US$38,657,105 on Friday. The buying rate for the US dollar fell 29 cents to close at $128.20. A total of US$60,637,044 was sold versus US$43,567,152 on Friday, with the selling rate falling 6 cents, to $129.01.
The Canadian dollar buying rate rose by 1 cent to $92.58, with dealers buying C$3,293,804 and selling C$1,184,938 at an average rate that fell 11 cents to $94.80. The average rate for buying the British Pound declined by 40 cents to $157.83 for the purchase of £3,424,418 while £1,457,937 was sold with a rise of 8 cents to end at $159.59.
At the end of trading on Tuesday, dealers sold €1,088,855 with the selling rate for the Euro, closing with a rise of $4.42 to $139.59, according to data from Bank of Jamaica. Dealers purchased €301,109 of the European common currency at $133.60 after falling $1.30. The US dollar equivalent of other currencies traded, amounts to US$18,022 being bought and selling of US$16,309.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Tuesday, include a rise of $22.45 in the highest buying rate for the Canadian dollar to $120 and a drop of $14.40 in the lowest selling rate to $77.10. The highest buying rate for the British Pound climbed by $3.80 to $164 and the highest selling rate rose $3.50 to $168.48. The highest buying rate for the Euro rose $21.44 to $157.24.
Jamaican $ make gains vs US – Tuesday
November 29, 2016 by
