The value of the Jamaican dollar slipped against the US dollar on Wednesday, with the selling rate for the US dollar ending at J$128.35 from J$128.16 previously.
Inflows into the system fell by several million dollars but selling remained inline with Tuesday’s levels.
Dealers bought the US currency at an average of J$127.27 down from JS$127.48 on Tuesday.
Inflows into the Jamaican foreign exchange market declined sharply by US$13.5 million on Wednesday compared to the same day last week, but selling by dealers rose just US$2 million compared to last week.
On Tuesday, dealers purchased US$34.3 million compared to US$45.6 million bought and sold US$33.5 million, of all currencies compared to US$37.4 million sold on previously. In USA dollar trading, inflows into the system ended at US$29.2 million versus US$38 million on Tuesday, while selling amounted to US$30.2 million versus US$30.4 million on the prior trading day.
The selling rate for the Canadian dollar rose to J$102.01 from J$101.92 at the close on Tuesday, while the British Pound was more costly at the close, with J$166.99 buying the British currency versus J$166.93 on Tuesday and the euro, lost value against the Jamaican dollar, with it taking J$147.16 to buy the European common currency on, versus J$146.46 previously.
Jamaican$ value slips
July 19, 2017 by