Jamaican $ steady vs US$ on Tuesday

The local currency again enjoyed another day of stability against the US dollar as it also made gains against the Pound sterling and Canadian dollar on Tuesday but unlike Monday when demand was less than supply on Tuesday demand was US$7 million more than supply. At the close of trading the equivalent of US$32,817,588 was bought by dealers, compared with US$42,229,067 on Monday, while they sold the equivalent of US$40,013,573 versus US$35,350,940 on the previous trading day.
In US dollar trading , dealers bought US$29,941,222 compared to US$38,757,520 on Monday. The buying rate for the US dollar gained 11 cents to $119.16 and US$38,224,150 was sold versus US$31,681,821 on Monday, the selling rate was unchanged at $119.64. The Canadian dollar buying rate rose 9 cents to end at $87.51, with dealers buying C$1,007,988 and selling C$776,956, at an average rate that declined by $2.33 to $89.60. The rate for buying the British Pound declined 12 cents to $180.25 for the purchase of £1,233,583, while £719,828 was sold, at an average rate that dropped 34 cents to $181.54. At the end of trading, it took J$132.18 to purchase the Euro, a rise of 14 cents from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.56 for a fall of 5 cents from Monday’s rate. The US dollar equivalent of other currencies traded, amounts to US$270,082 being bought, while US$115,300 was sold. Highs & Lows| On Tuesday, the highest buying rate for the US dollar ended with a fall of 10 cents, to $119.90, the lowest buying and the highest selling rates remained unchanged at $98.28 and $125.94 respectively and lowest selling rate climbed $3.89 to end at $102.17. The highest buying rate for the Canadian dollar dropped 15 cents to $90.25, the lowest buying rate was unchanged at $72.21, the highest selling rate lost 41 cents to end at $93.09 and the lowest selling rate gained 50 cents, to $84.50. The highest buying rate for the British Pound, dropped 20 cents to end at $183.15. The lowest buying rate rose 17 cents to $147.91, the highest selling rate remained at $190.46 and the lowest selling rate fell $4 to end at $173.20.