The Jamaican dollar gained almost one percent in value for the past week, with the selling rate ending the week at J$132.55 to one US dollar, an improvement over the J$133.80 it was sold for at the close of the previous week.
The local currency closed on Thursday with the selling rate at $133 and buying at $131.77, on Friday the buying rate closed at $131.33 or 44 cents less than on Thursday.
Unlike the previous week when dealers bought $48.8 million in US currency and the equivalent of US$56.6 million in all currencies and sold $46 million in US currency and US$53.2 million in all currencies, this past Friday only US$32 million was purchased in United States dollars and US$34.8 million in all currencies with US$43.74 million sold in US dollars with a total of US$44.67 million of all currencies.
On Wednesday coming, Bank of Jamaica will have it last scheduled sale for October when it auctions off US$10 million to the market that could lead to further revaluation of the local dollar.
More gains for Jamaican dollar
October 14, 2018 by
