The Jamaican dollar continues its slide against the main currencies on Thursday as the purchase of foreign currency by dealers, saw more demand than inflows. The equivalent of only US$23,283,938 entered the market with the equivalent of US$26,565,251 leaving. In contrast, on Wednesday dealers bought the equivalent of US$24,428,168 and sold the equivalent of US$31,678,079.
In US dollar trading, dealers bought only US$17,549,276 compared to US$19,806,494 on Wednesday as the buying rate for the US dollar rose 8 cents to $110.85 and sold US$21,696,188 versus US$22,336,540 on Wednesday with the rate closing up 5 cents to $111.50.
The Canadian dollar buying rate fell by 18 cents to end at $101.47 with dealers buying C$1,913,368 and selling C$1,734,868 with the rate rising 4 cents to end at $102.39.
The Pound closed at $186.23, for the purchase of £2,307,441 as the rate gained $1.58, while £1,868,362 was sold, with the rate rising 77 cents to $187.49. Other currencies bought amounted to the equivalent of only US$106,784 while selling accounted for the equivalent of just $134,343.
Highs & Lows| The highest buying rate for the US dollar gained 5 cents to $111.70 but the lowest buying rate along with the highest selling rates remained unchanged at $90.60 and $116.09 respectively. The lowest selling rate declined by 40 cents to $108.10.
The highest buying rate for the Canadian dollar rose 20 cents to $102.80, the lowest buying rate gained 8 cents to end at $80.76, the highest selling rate was up 6 cents to $104.54 and lowest selling rate was up by 40 cents to $97.70.
The highest buying rate for the Pound gained 75 cents to $187.85 while the lowest buying rate remained unchanged at $149.40 as well as the highest selling rate at $192.60 and the lowest selling rate at $180.
Moderate flows as J$ looses ground
June 12, 2014 by
