Jamaica’s FX market balances – Wednesday

The Jamaican foreign exchange market closed on Wednesday with buying and selling volume almost equal but with C$3.7 million more sold than purchased by dealers. At the close of trading, the Jamaican dollar’s selling rate, lost value against the US dollar but gained against the others.
At the end of trading, the equivalent of all currencies bought by dealers amounted to US$32,082,105, while US$32,451,077 was sold, compared to US$38,210,042 purchased and US$43,422,027 sold on Tuesday.
In US dollar trading, dealers bought US$29,052,296 compared to US$32,905,929 on Tuesday. The buying rate for the US dollar rose by 17 cents to close at $127.92. A total of US$26,777,442 was sold versus US$29,180,000 on Tuesday, with the selling rate rising 10 cents to end at $128.62. The Canadian dollar buying rate dropped $2.68 to $93.87, with dealers buying C$942,312 and selling C$4,671,860 at an average rate that fell 96 cents to $97.38. The average rate for buying the British Pound declined $1.22 to $155.04 for the purchase of £1,516,501 while £1,240,817 was sold at a rate that dipped 23 cents to end at $156.92.
At the end of trading, dealers sold €547,389 as the selling rate for the Euro, closed at $142.10 for fall of 98 cents from Tuesday’s rate, according to data from Bank of Jamaica. Dealers purchased €440,823 of the European common currency at $140.82 after falling $1.47 from the rate on Tuesday. The US dollar equivalent of other currencies traded, amounts to US$15,047 being bought and selling of US$18,052.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies in the foreign exchange market on Wednesday, include a rise of $20.26 in the lowest selling rate of the US Dollar to end at $124.80. The highest buying rate of the British Pound dropped $1.79 to $159.48, the lowest buying rate dived $1.24 to $126.58, the highest selling rate slipped $1.10 to $165.22 and the lowest selling rate dipped $1.30 to $152.20. Trading in the Euro resulted in a fall of $1.40 in the highest buying rate to $141.60, the highest selling rate climbed $1.10 to $145.50 and the lowest selling rate dropped $2 to $136.