Trading in the Jamaican foreign exchange market saw dealers purchasing a moderately more US dollars over the amount they sold on Friday, while the total amount of currencies bought by dealers was slightly more than the amount sold for the second day. The local currency still suffered losses against the US dollar at the end of trading.
The market closed with dealers buying the equivalent of US$38,558,450 and selling US$36,272,279, in contrast to US$30,846,091 purchased and US$29,596,417 sold on Thursday.
In US dollar trading, dealers bought US$35,051,410 compared to US$28,578,046 on Thursday, as the buying rate for the US dollar climbed 18 cents to close at $123.02.
A total of US$34,816,524 was sold versus US$27,862,374 on Thursday with the selling rate rising 19 cents to $123.75. The Canadian dollar buying rate rose 87 cents to end at $93.43 with dealers buying C$952,889 and selling C$688,384, at an average rate that dropped $1.37 to $95.10. The rate for buying the British Pound rose 83 cents to $175.98 for the purchase of £1,898,256, while £550,350 was sold, as the rate declined by $2.64 to $177.14.
At the end of trading, the selling rate for Euro, declined by $1.10 to close at J$140.85, from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$137.93 for a fall of $1.21 from Thursday’s rate. 
The US dollar equivalent of other currencies traded amounts to US$67,996 being bought, while US$138,942 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates for the Jamaican dollar against the main currencies on Friday are, a fall of $19.33 in the lowest selling rate of the US dollar to end at $100.37, a fall of $2.17 in the highest selling rate of the Canadian dollar to end at $98.93 and a decline of $2 in the lowest selling rate to $89, a drop of $24.07 in the lowest selling rate for the British Pound to end at $146.73.
More FX bought than sold – Friday
May 6, 2016 by
