More FX bought than sold – Friday

Trading in the Jamaican foreign exchange market saw dealers purchasing US$8 more than they sold on Friday, with trading levels back to normal, compared to over US$120 million dollar changing hands on Thursday. The rate of the local dollar saw a very slight erosion, climbing to $123.15 for the selling rate of the US dollar. The Jamaican dollar declined against the Canadian dollar and gained against the Pound.
The market closed with dealers buying the equivalent of US$33,671,447 and selling US$25,438,235, in contrast to US$123,767,068 purchased and US$123,055,349 sold on Thursday.
In US dollar trading, dealers bought US$30,487,529 compared to US$120,456,040 on Thursday, as the buying rate for the US dollar fell 53 cents to close at $122.37. A total of US$24,056,712 was sold versus US$120,998,074 on Thursday with the selling rate rising 1 cent to $123.15. The Canadian dollar buying rate jumped $1.24 to end at $95.16 with dealers buying C$1,262,941 and selling C$580,684, at an average rate that rose 51 cents to $97.53. The rate for buying the British Pound fell 83 cents to $175.90 for the purchase of £1,478,725, while £475,362 was sold, as the rate dropped $2.70 to $177.03.
At the end of trading, the selling rate for Euro, rose 10 cents to close at J$139.34, from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$136.98 for a rise of 88 cents from Thursday’s rate. The US dollar equivalent of other currencies traded amounts to US$76,225 being bought, while US$238,349 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 rise of $9.16 in the lowest selling rate of the US dollar to end at $102.66, a fall of $1.50 in the highest buying rate of the Canadian dollar to $97.50 and a decline of $2.80 in the lowest selling rate to end at $87.20. A rise of $4.20 in the lowest selling rate to $172.20 for the British Pound.