Net FX inflows up US$10m – Monday

Net inflows into the foreign exchange market in Jamaica delivered another day of strong surplus of US$10 million on Monday, leading to gains in the value of the Jamaican dollar.
At the end of trading, dealers bought US$40,421,717 and sold only US$30,050,926 compared to US$28,147,514 purchased and US$18,727,447 sold on Friday, of all currencies.
In US dollar trading, dealers bought US$36,514,078 compared to US$23,819,249 on Friday. The buying rate for the US dollar rose 1 cent to close at $127.26. A total of US$27,511,067 was sold versus US$15,477,475 on Friday, with the selling rate falling 3 cents to end at $127.96. The Canadian dollar buying rate fell 73 cents to $95.80, with dealers buying C$2,585,550 and selling C$2,084,485 at an average rate that fell 41 cents to $97.233. The average rate for buying the British Pound dived $1.87 to $162.41 for the purchase of £1,404,417 while only £372,355 was sold as the rate rose $1.15 to end at $165.13.
At the end of trading, dealers sold €138,057 as the selling rate for the Euro, closed at $145.45 for a rise of 48 cents from Friday’s rate, according to data from Bank of Jamaica, dealers purchased €402,803 of the European common currency at $138.05 after it dropped $4.95 from the rate on Friday. The US dollar equivalent of other currencies traded, amounts to US$19,393 being bought, while US$17,477, was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Monday, include a drop of $19.46 in the lowest selling rate of the US dollar to end at $104.04. There was a fall of $1.79 in the highest buying rate for the Canadian Dollar to end at $97.70. Trading in the British Pound resulted in a rise of $1.18 in the highest buying rate to close at $168.18, a fall of $1.66 in the lowest buying rate to $133.22 while the lowest selling rate dropped $1.70 to $158. Trading in the Euro resulted in a dive of $24.47 in the lowest selling rate to $114.53.