Jamaican$ regains ground – Thursday

The Jamaican dollar recovered the loss suffered on Tuesday and Wednesday against the US dollar, with the local currency gaining 6 cents in foreign currency trading on Thursday, with trading falling back to more normal levels from the heightened levels on Wednesday.
On Thursday, the public bought the US dollar at $125.71 as dealers sold US$45.59 million in US currency, compared US$65.75 million at an average rate of $125.77 on Wednesday. US currency purchases by dealers, amounted to US$43.08 million on Thursday, at an average rate of $124.63, compared to Wednesday, with US$59.18 million at $124.85.
On Thursday at midday dealers purchased US$14.8 million at an average rate of J$125.06 and sold US$8.4 million at an average of J$125.69. At mid-day on Wednesday dealers purchased US$12.01 million at an average rate of J$125.11 while they sold US$9.08 million at an average of J$125.85.
Dealers’ purchased US$52.22 million, versus US$65.32 million on Wednesday in all currencies in Jamaica’s Forex market and sold US$53.84 million compared with US$69.63 million sold, previously.
The selling rate for the Canadian dollar rose to J$98.04 from J$97.86 at the close on Wednesday. The selling rate for the British Pound jumped to J$169.65 versus J$166.67 previously and the euro rose in value against the Jamaican dollar at J$149.71 to buy the European common currency, versus the prior selling rate of J$147.89.