Net forex inflows end July at US$189M

Trading in the Jamaican foreign exchange market on Monday resulted inflows of US51 million in contrast to US$44.4 million on Friday and outflows of US$39.7 million compared to US$30.4 million of all currencies on previously and resulted in net inflows for July ended at US$189 million.
In USA dollar trading, inflows ended at US$45 million versus US$37.9 million on Friday, with outflows of US$35.7 million compared to US$25.5 million.
The value of the Jamaican dollar rose modestly in value against the US dollar, with the selling rate for the US dollar ending at J$128.22 from J$128.39 previously. At the end of June dealers were selling the Jamaican dollar at J$128.62 to the US dollar. Dealers bought the US currency at an average of J$126.99, down from J$127.26 on Friday.
The selling rate for the Canadian dollar declined to J$103.09 from J$103.34 at the close on Friday, while the British Pound was more costly at the close, with J$167.54 buying the British currency versus J$166.90 and the euro, rose in value against the Jamaican dollar, with it taking J$151.38 to buy the European common currency, versus J$150.66 previously.