Jamaican$ trades below $127 – Tuesday

The rate of exchange for to buy the US dollar by the public dipped below the $127 mark to settle on Tuesday at $126.91 as dealers sold US$49.57 million of the US dollar, compared to US$41.28 million at an average rate of $127.03 on Monday.
US currency purchases amounted to US$48.22 million on Tuesday, at an average rate of $126.11 compared to Monday, with US$48.09 million at $126.02.
Dealers purchased US$52.58 million, versus US$63.31 million on Monday in all currencies in Jamaica’s forex market and sold US$52.88 million compared with US$48.01 million of all currencies sold previously.
At Midday, dealers bought US$11.5 million at J$126.14 and sold US$10.8 million at J$126.82 compared to the purchase of US$24.1 million at J$126.52 and selling of US$15.6 million at J$127.
The selling rate for the Canadian dollar slipped to J$99.38 from J$99.65 at the close on Monday. The selling rate for the British Pound rose to J$166.76 versus J$165.04 on Monday and the euro gained in value against the Jamaican dollar, to J$148.23 to buy the European common currency, versus J$146.98 previously.