Jamaican $ slipped on Wednesday

The rate for the Jamaica dollar slipped slight against the United States dollar on Wednesday as net inflows into the Jamaica’s foreign exchange market, declined by just under US$2 million, pulling the surplus since the end of June to US$100 million. In Wednesday’s trading, dealers bought US$42,999,802 while they sold US$45,211,506 compared to US$51,197,988 purchased and US$41,592,069 sold on Tuesday, of all currencies.
In US dollar trading, dealers sold US$5 million more than they bought with buying amounting to US$37,624,597 compared to US$47,968,704 on Tuesday. The buying rate for the US dollar rose 5 cents to $125.79. A total of US$42,675,173 was sold versus US$40,035,361 on Tuesday, with the selling rate rising 6 cents to end at $126.55. The Canadian dollar buying rate rose by 42 cents to end at $93.44, with dealers buying C$1,512,401 and selling C$825,177, at an average rate that dropped 41 cents to $96.64. The average rate for buying the British Pound jumped $2.55 to $165.58 for the purchase of £2,888,370, while £1,380,647 was sold to end at $167.79, for a rise $2.26.
At the end of trading, the selling rate for the Euro, dropped by $1.63 to close at J$139.95 from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$134.11 for a dive of $5.16.
The US dollar equivalent of other currencies traded amounts to US$449,616 being bought, while US$75,668 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Wednesday, include, a decline of $1.20 in the highest buying rate of the Canadian Dollar to close at $97.10, a rise of $1 in the lowest buying rate to $77.36, while trading in the British Pound resulted in a gain of $1.62 in the highest selling rate to $176.04 and the lowest selling rate jumped $7.55 to end at $161.