Jamaican$ value slips on Wednesday

Buying of foreign exchange in the Jamaican market, pulled back on Wednesday from the levels on Tuesday, with inflows of all currencies reaching US$39.4 million, versus US$41.2 million on Tuesday selling slightly US$41.1 million in contrast to US$53.64 million, previously.
At the close of the market, the selling rate of US dollar rose against the Jamaican dollar by 8 cents, with the rate dealers bought the US dollar for, costing just 1 cent less than the closing rate on Tuesday.
In US dollar trading, dealers sold US$40.08 million at a rate of J$127.55 at the close, compared to US$50.83 million at a rate of J$127.47 on Tuesday. Purchases of the US currency by dealers, amounted to US$37.20 million at an average of $126.51 at the close, compared US$37.47 million at an average of $126.52.
At mid-day on Wednesday dealers purchased US$9.16 million at an average rate of J$126.79 and sold US$16.18 million at an average of J$127.37. At mid-day on Tuesday dealers purchased US$14.58 million at an average rate of J$127.09 and sold US$15.9 million at an average of J$127.45.
The selling rate on Wednesday, for the Canadian dollar rose to J$97.66 from J$97.05 at the close on Tuesday, the selling rate for the British Pound climbed to J$178.42 from J$175.60 previously and the euro inched higher against the Jamaican dollar at J$157.44 to buy the European common currency, versus the prior selling rate of J$157.42.

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