Chart shows Jamaican$ could go back to 120 to US$1 in 2018.
The rate for exchanging the Jamaican dollar against the US dollar, declined by 22 cents in foreign currency trading on Friday, with trading volumes falling to lowest for the week of just over US$32 million.
On Friday, the public bought the US dollar at $125.49 as dealers sold US$33.37 million in US currency, compared US$45.59 million at an average rate of $125.71 on Thursday. US currency purchases by dealers, amounted to US$32.42 million on Friday, at an average rate of $124.22, compared to Thursday, with US$43.08 million at $124.63.
On Friday at midday dealers purchased US$10.65 million at an average rate of J$124.97 and sold US$7.6 million at an average of J$125.27. At mid-day on Thursday dealers purchased US$14.8 million at an average rate of J$125.06 while they sold US$8.4 million at an average of J$125.69.
Dealers’ purchased US$35.66 million, versus US$52.22 million on Thursday in all currencies in Jamaica’s Forex market and sold US$35.51 million compared with US$53.84 million sold, previously.
The selling rate for the Canadian dollar slipped to J$97.02 from J$98.04 at the close on Thursday. The selling rate for the British Pound dropped to J$167.01 versus J$169.65 previously and the euro lost value against the Jamaican dollar at J$148.34 to buy the European common currency, versus the prior selling rate of J$149.71.