More losses for Jamaican$ – Wednesday

Trading in the foreign exchange market resulted in the Jamaican dollar losing some more value on Wednesday for the third time this week. The market closed with dealers buying the equivalent of US$33,990,180 and selling US$38,856,139, in contrast to US$29,032,584 purchased and US$51,852,594 sold on Tuesday.
In US dollars trading, dealers bought US$30,872,138 compared to US$25,427,548 on Tuesday, as the buying rate for the US dollar added 33 cents to end at $121.87. A total of US$36,566,568 was sold versus US$47,856,185 on Tuesday, the selling rate rose 9 cents to $122.55. The Canadian dollar buying rate rose 20 cents to end at $94.68 with dealers buying C$1,476,932 and selling C$1,354,910, at an average rate that fell 59 cents to $96.91. The rate for buying the British Pound rose by 68 cents to $172.23 for the purchase of £1,299,462, while £637,723 was sold, as the rate rose $2.08 to $174.87. At the end of trading, the selling rate for Euro, rose 72 cents to close at J$139.31, from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$136.19 for a rise of 40 cents on Tuesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$134,236 being bought, while US$308,070 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates for the currencies on Wednesday are, a jump of $16.57 in the lowest selling rate of the US dollar to $118.80, a rise of $1 in the highest buying rate for the British Pound to $177.50, an increase of $1.03 in the lowest buying rate to $140.06, a rise in the in the highest selling rate by $1.35 to $182.25, while the lowest selling rate fell $1 to $165.