More US$ sold than bought – Monday

Dealers in the forex market who bought over US$24 million more than they sold last week sold US$5 million more than they bought on Monday in all currencies as the local currency selling rate for the US dollar increased for the sixth consecutive day.
The foreign exchange market closed on Monday, with dealers buying the equivalent of US$35,822,833 and selling US$40,716,594, in contrast to US$52,840,212 purchased and US$46,464,311 sold on Friday.
In US dollar trading, dealers bought US$32,644,468 compared to US$49,322,500 on Friday, as the buying rate for the US dollar declined by 46 cents to $124.48. A total of US$39,134,277 was sold versus US$43,765,413 on Friday with the selling rate rising 2 cents to $125.46. The Canadian dollar buying rate fell $1.52 to end at $92.46 with dealers buying C$1,221,873 and selling C$1,050,885, at an average rate that rose 29 cents to $96.74. The rate for buying the British Pound dropped 81 cents to $179.62 for the purchase of £1,480,634, while £460,528 was sold, with the rate falling $1.90 to $181.85.
At the end of trading, the selling rate for Euro, dropped 64 cents to close at J$139.64 from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$136.99, for a fall of 68 cents from Friday’s rate. The US dollar equivalent of other currencies traded amounts to US$134,284 being bought, while US$104,463 was sold.
Highs & Lows| Notable changes to the highest and lowest rates, the Jamaican dollar traded at, in the foreign exchange market on Monday, include, a fall of $2.27 in the lowest selling rate of the US dollar to $101.87, a decline of $1.12 in the highest buying rate of the Canadian Dollar to $97.28, a fall of $3.36 to $73 in the lowest buying rate, while the lowest selling rate dropped $3.80 to $87.20. The highest buying rate for the British Pound fell by $1.24 to $185.15 and a $3 fall in the lowest selling rate, pushed it to $172.