Monday’s inflows push surplus to US$254M

Foreign exchange inflows continue to exceed sales by wide margins for the past two months,as net inflows grew yet again, with authorized dealers buying another $15.8 million more than they sold on Monday, bringing the net inflows since the end of June, to US$254 million. In Monday’s trading, dealers bought US$63,176,140 and sold US$47,394,596 compared to US$40,765,078 purchased and US$32,968,997 sold on Friday, of all currencies.
In US dollar trading, dealers bought US$59,700,993 compared to US$38,520,593 on Friday. The buying rate for the US dollar climbed 15 cents to close at $126.91. A total of US$44,268,643 was sold versus US$30,809,968 on Friday, with the selling rate rising 8 cents to end at $127.44. The Canadian dollar buying rate rose 55 cents to $96.17, with dealers buying C$2,398,362 and selling C$2,521,603 at an average rate that rose 14 cents to $98.68. The average rate for buying the British Pound fell $2.29 to $162.98 for the purchase of £1,111,668 while only £293,780 was sold with the rate dropped $1.99 to end at $165.68.
At the end of trading, the selling rate for the Euro, fell 37 cents to close at J$143.75 from Friday’s rate, according to data from Bank of Jamaica, dealers purchased the European common currency at J$137.96 for a fall of $3.15 from the rate on Friday. The US dollar equivalent of other currencies traded amounts to US$230,040 being bought, while US$791,447, was sold.Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Monday, include a drop of $1.40 in the highest buying rate for the Canadian Dollar to close at $98.60 and a fall of $1.30 in the lowest selling rate to $93.30. Trading in the British Pound resulted in a fall of $1.20 in the highest buying rate to $168 and a fall of $2.50 in the lowest selling rate to close of $160.