The Jamaican dollar made more gains against the US dollar and the euro in foreign exchange trading on Wednesday, following gains made on Tuesday but lost value against the British pound and the Canadian dollar. At the close of the market, dealers bought the equivalent of US$58,868,333 of all currencies and sold US$36,828,727, compared to US$57,996,882 purchased and US$49,187,617 sold on Tuesday.
In US dollar trading, dealers bought US$50,506,344 compared to US$53,844,073 on Tuesday. The buying rate for the US dollar rose 10 cents to $128.22. A total of US$30,039,107 was sold versus US$47,268,489 on Tuesday, with the selling rate slipping by 6 cents to $128.64.
The Canadian dollar buying rate gained $2.91 to $97.55, with dealers buying C$7,270,007 and selling C$6,871,594 at an average rate that climbed $1.12 to finish at $98.03. The average rate for buying the British Pound slipped 26 cents to $159.97 for the purchase of £2,209,920 while £1,156,688 was sold with a rise of 80 cents to end at $162.92.
At the end of trading on Wednesday, dealers sold €66,011 with the selling rate for the Euro, closing with a fall of 27 cents to $135.88, according to data from Bank of Jamaica. Dealers purchased €63,330 of the European common currency at $132.18 after rising 27 cents. The US dollar equivalent of other currencies traded, amounts to US$8,283 being bought and selling of US$18,267.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Wednesday, include a jump of $2.80 in the highest buying rate for the Canadian dollar to end at $99.73. The highest buying rate for the Euro dropped $3 to $134.50 and the lowest buying rate for the jumped $6.65 to $117.04.
More gains for Jamaican$ on Wednesday
December 14, 2016 by
