More US$ bought than sold – Thursday

Trading in the Jamaican foreign exchange market saw dealers purchasing a moderate amount of US dollars over the amount they sold on Thursday, while the total amount of currencies bought by dealers was slightly more than the amount sold. The local currency still suffered losses against the US dollar.
The market closed with dealers buying the equivalent of US$30,846,091 and selling US$29,596,417, in contrast to US$34,649,112 purchased and US$40,256,846 sold on Wednesday.
In US dollar trading, dealers bought US$28,578,046 compared to US$31,302,170 on Wednesday, as the buying rate for the US dollar fell 7 cents to close at $122.84. A total of US$27,862,374 was sold versus US$38,684,691 on Wednesday with the selling rate rising 5 cents to $123.56. The Canadian dollar buying rate dropped $1.54 to end at $92.56 with dealers buying C$652,621 and selling C$771,360, at an average rate that rose 70 cents to $96.47. The rate for buying the British Pound fell 94 cents to $175.15 for the purchase of £1,184,774, while £730,094 was sold, as the rate rose $2.32 to $179.78.
At the end of trading, the selling rate for Euro, declined 18 cents to close at J$141.95, from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$139.14 for a fall of $1.90 from Wednesday’s rate. The US dollar equivalent of other currencies traded amounts to US$86,981 being bought, while US$69,571 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates for the Jamaican dollar against the main currencies on Thursday are, a fall of 95 cents in the highest buying rate of the Canadian dollar to end at $96.55 and a decline of $1.03 in the lowest buying rate to $75.95, a drop of $5.86 in the highest buying rate for the British Pound to end at $178,60 and a fall of 79 cents in the lowest buying rate to $142.39.