Jamaican$ value rises against – Tuesday

The selling rate of US dollar fell against the Jamaican dollar by 13 cents on Tuesday, with the rate dealers bought the US dollar for, costing 36 cents more than the closing rate on Monday.
The local dollar has appreciated since Friday and could make more gains in the next few days with Bank of Jamaica scheduling the auction of US$20 million on Wednesday. The central bank in a notice has no auction set for the next three weeks up to the April 4.
On Tuesday, Inflows of all currencies, totaled US$51.28 million, versus US$49.63 million on Monday with the selling of US$52.40 million in contrast to US$53.75 million previously traded.
In US dollar trading, dealers sold US$49.13 million at an average of J$128.63, at the close, compared to US$50.2 million at an average of J$128.76 on Monday. Purchases of the US currency by dealers, amounted to US$46.72 million at an average of $127.50 at the close, compared US$46.11 million at an average of $127.14.
At mid-day on Tuesday dealers purchased US$19.38 million at an average rate of J$127.79 and sold US$18.11 million at an average of J$128.43. At mid-day on Monday dealers purchased US$26.57 million at an average rate of J$127.84 and sold US$17.58 million at an average of J$128.65.
The selling rate on Tuesday, for the Canadian dollar fell to J$100.30 from J$100.55 at the close on Monday, the selling rate for the British Pound slipped to J$176.18 from J$176.24 previously and the euro dipped against the Jamaican dollar at J$156.17 to buy the European common currency, versus the prior selling rate of J$158.23.

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