The Jamaican dollar was virtually stable against the US dollar but lost ground against the Canadian dollar and the Pound sterling in Tuesday’s trading as the purchase of foreign currency by dealers exceeded selling for the third day in a row.
Trading levels on the market on Tuesday were below Monday’s which is usually the norm, with dealers buying the equivalent of US$33,917,829 compared to US$44,386,802 on Monday and they sold the equivalent of US$28,025,802 versus US$50,757,616
In US dollar trading, dealers bought US$26,384,980 compared to US$46,175,243 on Monday as the buying rate for the US dollar fell 2 cents to $110.84 and sold US$22,336,540 versus US$40,725,949 on Monday with the rate closing up a cent at $111.40.
The Canadian dollar buying rate rose by 45 cents to end at $101.17 with dealers buying C$3,129,699 and selling C$3,127,180 with the rate rising 19 cents to end at $102.20.
The Pound closed at $184.47 for the purchase of £1,952,762 as the rate gained 8 cents while £806,732 was sold with the rate gaining 59 cents to $187.18. Other currencies bought amounted to the equivalent of US$1,426,083 while selling accounted for the equivalent of $1,465,144.
Highs & Lows| The highest and the lowest buying rates along with the highest selling for the US dollar remained unchanged at $111.60, $90.60 and $116.09 respectively but the lowest buying rate gained 42 cents to $90.60.
The highest buying rate for the Canadian dollar rose 2 cents to $102.15, the lowest buying rate increased by 17 cents to $80.68, the highest selling rate inched up 10 cents to $104.10 and lowest selling rate was up by a mere 20 cents to $97.20.
The highest buying rate for the Pound fell 15 cents to $187 while the lowest buying rate climbed just 4 cents to $149.40. The highest selling rate declined by $1.01 to $191.54 while the lowest rate fell 50 cents to $179.45.
More inflows than outflows again
June 10, 2014 by
