Net FX inflows rise J$ value falls – Thursday

The Jamaican dollar gave back 9 cents of its value as measured by the average selling rate for the United States dollar on Thursday as net inflows into the Jamaican foreign exchange market declined on Thursday from the net position on Wednesday.
At the close, the United States currency was being sold at an average of J$128.38, co0mpared to J$128.30 on Wednesday. Dealers bought the US currency at an average of J$127.55, up slightly from JS$127.53 previously. Dealers bought the equivalent of US$8 million more funds than they sold, up from US$15 million on the prior trading day, bringing the surplus for the week to US$44.5 million.
Dealers purchased US$37 million and sold US$29 million, of all currencies on Thursday. On Wednesday, US$47.87 million entered the market and US$32.54 million was sold to the public.
In USA dollar trading, inflows into the system ended at US$35 million versus US$41.3 million previously, while selling amounted to US$28 million versus US$27.9 million on Wednesday.
The selling rate for the Canadian dollar rose to J$101.12 from J$100.04 at the close on Wednesday, while the British Pound was more costly at the close on Thursday, with J$166.91 buying the British currency versus J$164.23 on Wednesday and the Jamaican dollar fell in value against the euro, with it taking J$147.14 to buy the European common currency on Thursday, versus Wednesday’s rate of J$146.28.