Jamaican$ revaluation continues – Monday

The Jamaican dollar slipped further below 129 mark to the US dollar on Monday as revaluation of the local currency continues to take hold and it enjoyed gains versus the Canadian dollar and the Euro but slipped mildly against the British pound, as inflows of foreign currency was US$19 million more than the amount sold.
On Monday dealers bought the equivalent of US$58,754,418 of all currencies and sold US$39,263,489, compared to US$39,914,464 purchased and US$37,310,870 sold on Friday.
In US dollar trading, dealers bought US$52,747,596 compared to US$34,228,934 on Friday. The buying rate for the US dollar remained unchanged at $128.24. A total of US$35,020,783 was sold versus US$33,195,116 on Friday, with the selling rate falling 6 cents to $128.89. The Canadian dollar buying rate fell by $1.22 to $95.12, with dealers buying C$4,127,945 and selling C$4,023,122 at an average rate that fell 8 cents to $97.16. The average rate for buying the British Pound declined 67 cents to $159.69 for the purchase of £2,214,209 while £755,070 was sold with a rise of 5 cents, to end at $162.17.
At the end of trading on Monday, dealers sold €77,025 with the selling rate for the Euro, closing with a fall of $1.49 to $137.61, according to data from Bank of Jamaica. Dealers purchased €121,451 of the European common currency at $129.34 after declining $3.04. The US dollar equivalent of other currencies traded, amounts to US$65,401 being bought and selling of US$177,629.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Monday, include a jump of $15.75 in the lowest selling rate for the US dollar to end at $120. The highest selling rate for the Canadian dollar rose $1.08 to $101.52 while there was a drop of $5.80 in the lowest selling rate to $87. The lowest buying rate for the British Pound rose $1.08 to $131.56, the highest selling rate climbed $4.47 to end at $171.18 while the lowest selling rate rose $2.70 to $154. The highest buying rate for the Euro rose $1 to $136 and the highest selling rate moved up $2.14 to $143.86.