Jamaica’s FX market balanced on Thursday

Flows in and out of the Jamaican foreign exchange market were in balance on Thursday. The impact on rates was mixed, with slippage in the value of the Jamaican dollar against United States and Canadian currencies and gains against the pound and euro.
At the end of trading, the equivalent of all currencies bought by dealers was US$29,696,401, while US$29,483,135 was sold compared to US$29,131,694 purchased and US$23,158,962 sold on Wednesday.
In US dollar trading, dealers bought US$26,609,238 compared to US$26,470,810 on Wednesday. The buying rate for the US dollar rose 18 cents to close at $127.50. A total of US$27,286,685 was sold versus US$21,617,895 on Wednesday, with the selling rate rising 9 cents to end at $128.20.The Canadian dollar buying rate jumped $2.68 to $96.85, with dealers buying C$2,401,978 and selling C$2,067,916 at an average rate that climbed $1.56 to $97.91. The average rate for buying the British Pound fell $1.11 to $162.77 for the purchase of £900,326 while £381,123 was sold as the rate fell 20 cents to end at $166.23.
At the end of trading, dealers sold €102,860 as the selling rate for the Euro, closed at $143.92 for a fall of 25 cents from Wednesday’s rate, according to data from Bank of Jamaica. Dealers purchased €96,008 of the European common currency at $138.31 after falling $1.09 from the rate on Wednesday. The US dollar equivalent of other currencies traded, amounts to US$9,077 being bought and the selling of US$7,432.
Highs & Lows| Changes to the highest and lowest traded rates for the US Dollar remain moderate but notable changes to rates for the three other currencies in the foreign exchange market on Thursday, include a rise of $2.24 highest buying rate of the Canadian dollar to $100.10. The highest buying rate of the British Pound dropped $2.40 to $166.60, the highest selling rate rose $1.93 to $174.20 while the lowest selling rate fell $3.75 to $158. Trading in the Euro resulted in a rise of $3.10 in the highest selling rate to end at $149.80 and a gain of $2.58 in the lowest selling rate to $137.08.