Jamaican$ trades below 129 vs US – Thursday

The Jamaican dollar made gains against US dollar falling below 129 to the Green back for the second time, in less than a month. The country is entering into a period of high inflows and relatively lower outflows that could well result in some revaluation of the currency for awhile.
The local currency also gained, in trading with the Canadian dollar and the euro. On Thursday dealers bought the equivalent of US$31,582,543 of all currencies and sold US$30,667,869, compared to US$39,189,951 purchased and US$34,123,507 sold on Wednesday.
In US dollar trading, dealers bought US$28,148,803 compared to US$34,730,432 on Wednesday. The buying rate for the US dollar fell 7 cents to close at $128.23. A total of US$29,170,051 was sold versus US$32,306,693 on Wednesday, with the selling rate falling 9 cents, to $128.95. The Canadian dollar buying rate rose by 28 cents to $93.21, with dealers buying C$1,849,736 and selling C$884,304 at an average rate that fell 63 cents to $94.67. The average rate for buying the British Pound rose 95 cents to $159.21 for the purchase of £1,595,600 while £627,875 was sold with a rise of 65 cents to end at $161.30.
At the end of trading on Thursday, dealers sold €55,600 with the selling rate for the Euro, closing with a drop of $4.55 to $135.44, according to data from Bank of Jamaica. Dealers purchased €99,383 of the European common currency at $131.68 after falling 79 cents. The US dollar equivalent of other currencies traded, amounts to US$5,915 being bought and selling of US$4,781.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Thursday, include a decline of $15.75 in the lowest selling rate for the US dollar to end at $104.25. The highest selling rate for the Canadian dollar rose $1.06 to $100.66 while there was a rise of $1 in the lowest selling rate to $92. The highest buying rate for the British Pound rose $2.24 to end at $165.74 and the highest buying rate for the Euro declined by $4.20 to $134.50.