Trading in Jamaica’s foreign exchange market saw net inflows climbing by US$6 million of all foreign currencies traded, as dealers continue to add to the net pool of funds accumulated in the system since the start of July.
At the end of trading, dealers bought US$31,203,336 and sold only US$25,137,492 compared to US$25,483,427 purchased and US$19,195,850 sold on Thursday, of all currencies.
In US dollar trading, dealers bought US$28,342,390 compared to US$22,657,177 on Thursday. The buying rate for the US dollar rose 7 cents to close at $127.07. A total of US$21,573,835 was sold versus US$17,269,462 on Thursday, with the selling rate rising 13 cents to end at $127.90.
The Canadian dollar buying rate rose 7 cents to $93.77, with dealers buying C$843,824 and selling C$2,975,093 at an average rate that rose $1.07 to $99.04. The average rate for buying the British Pound dropped 82 cents to $164.81 for the purchase of £1,388,744 while only £490,711 was sold as the rate rose 64 cents to end at $166.66.
At the end of trading, the selling rate for the Euro, rose $2.35 to close at J$145.10 from Thursday’s rate, according to data from Bank of Jamaica, dealers purchased the European common currency at J$141.23 for a gain of $2.27 from the rate on Thursday. The US dollar equivalent of other currencies traded, amounts to US$437,137 being bought, while US$612,876, was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Thursday, include a drop of $12 in the lowest buying rate of the US dollar to end at $92. There was a rise of $1.42 in the highest buying rate for the Canadian Dollar to end at $97.60 and a jump of $13.10 in the lowest selling rate to $92.20. Trading in the British Pound resulted in a fall of $1.45 in the highest buying rate to close at $167.55, a climb of $2.50 in the lowest selling rate to $162.
Net FX inflows up US$6m – Friday
September 16, 2016 by
