Jamaican $ slips vs. US – Wednesday

The Jamaican dollar lost value against the US and Canadian dollars, but made modest gains on the Pound on Wednesday. Funds purchased by dealers were much less than the amount sold by US$8 million. The equivalent of US$29,557,919 was purchased and the equivalent of US$37,613,356 was sold, compared with US$30,303,656 they purchased and US$40,066,275 sold on Tuesday.
In US dollar trading , dealers bought US$25,882,409 compared to US$26,764,918 on Tuesday. The buying rate for the US dollar gained 1 cent to $119.27 and US$35,819,736 was sold versus US$37,677,186 on Tuesday, the selling rate rose 5 cents to $119.96. The Canadian dollar buying rate rose 2 cents to end at $86.90 with dealers buying C$1,189,875 and selling C$1,293,626, at an average rate that jumped $1.30 to $89.59. The rate for buying the British Pound jumped $1.82 to $178.18 for the purchase of £1,821,912, while £494,520 was sold, with the rate falling 51 cents to $178.72. At the end of trading, it took J$127.20 to purchase the Euro, a rise of 53 cents from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$124.61 for a rise of 56 cents from Tuesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$86,949 being bought, while US$90,845 was sold.
Highs & Lows| On Wednesday, the highest buying rate for the US dollar rose 20 cents to $120.30 while the lowest buying and the highest selling rates were unchanged at $98.66 and $126.42 respectively and the lowest selling rate leapt $18.34 to $117. The highest buying rate for the Canadian dollar fell 36 cents to end at $90.47, the lowest buying rate held at $71.38, the highest selling rate inched down by 6 cents to $92.02 and the lowest selling rate remained at $85. The highest buying rate for the British Pound, dropped by $1.30 to end at $180.12. The lowest buying rate rose 41 cents to $145, the highest selling rate dipped $2.08 to $184.31 and the lowest selling rate rose 10 cents to $173.80.