Jamaican$ steadies vs US$ – Wednesday

Trading in the foreign exchange market resulted in the Jamaican dollar remaining steady against the US dollar but declining versus the Pound and Canadian dollar on Wednesday. The market closed with dealers buying the equivalent of US$46,701,824 and selling US$57,584,794, in contrast to US$64,271,438 purchased and US$51,490,582 sold on Tuesday.
In US dollars trading, dealers bought US$42,342,647 compared to US$59,240,425 on Tuesday, as the buying rate for the US dollar rose 5 cents to end at $121.30. A total of US$54,952,951 was sold versus US$49,386,062 on Tuesday, the selling rate remained at $121.97. The Canadian dollar buying rate rose 79 cents to end at $89.63 with dealers buying C$1,653,054 and selling C$1,141,964, at an average rate that was up by 56 cents to $91.89. The rate for buying the British Pound climbed by $1.13 to $171.25 for the purchase of £2,023,111, while £1,085,844 was sold, as the rate rose $1.33 to $172.67. At the end of trading, the selling rate for Euro, rose 20 cents to close at J$136.43, from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$133.59 for a rise of 18 cents from Tuesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$281,738 being bought, while US$234,268 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at on Wednesday are, a big jump of $18.72 in the lowest selling rate of the US dollar to $118.50, a rise of $1.25 in the lowest buying rate for the British Pound to $139.03, a rise of $1.25 in the highest selling rate to end at $180.90 and a big jump of $20.75 in the lowest selling rate to end at $167.50.