Net FX inflows climb to $100m

Net inflows into the Jamaica’s foreign exchange market, rose by just under US$10 million on Tuesday, pushing the surplus since the end of June to US$102 million. In Tuesday’s trading, dealers bought US$51,197,988 while they sold US$41,592,069 compared to US$41,626,691 purchased and US$36,879,082 sold on Friday, of all currencies. The value for the Jamaican dollar rose against the major currencies.
In US dollar trading, dealers bought US$8 million more than they sold with buying amounting to US$47,968,704 compared to US$36,942,682 on Friday. The buying rate for the US dollar fell 15 cents to $125.74. A total of US$40,035,361 was sold versus US$30,736,441 on Friday, with the selling rate falling 7 cents to end at $126.49. The Canadian dollar buying rate declined by $1.02 to end at $93.02, with dealers buying C$1,653,128 and selling C$1,026,290, at an average rate that dropped $2.94 to $97.05. The average rate for buying the British Pound dipped 31 cents to $163.03 for the purchase of £1,389,791, while £514,598 was sold to end at $165.53, for a decline of 48 cents.
At the end of trading, the selling rate for the Euro, climbed by $1.39 to close at J$141.58 from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$139.27 for a leap of $7.07. The US dollar equivalent of other currencies traded amounts to US$204,464 being bought, while US$95,810 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Tuesday, include, a gain of 80 cents in the highest buying rate of the Canadian Dollar to close at $98.30, a rise of $2.10 in the lowest selling rate to $91.10, while trading in the British Pound resulted in a gain of $1.35 in the highest buying rate to $168.65 and the lowest selling rate dropped $6.55 to end at $153.45.