Observers say FX market is liquid

ForEx trading as at Friday 4 May, 2013 | Sale of foreign exchange was greater than the amounts purchased, but the selling rate for the US dollar slipped yet again, in a two-week long appreciation of the beleaguered currency. The closing average rate of the US dollar against the Jamaican dollar is now down to $99.19 compared to yesterday’s $99.26, the currency sold for an average rate of $99.36 on Monday and is well off the low of J$99.81 reached on April 12th. The Jamaican dollar has appreciated every day this week.

Amounts traded | Authorized dealers purchased more funds today than on Thursday, US$34.14 million vs. $32.8 million, but sales amounted to $38.65 million. Only $26.54 million was sold on Thursday. Based on the trend seen from last week and evident all of this week, the currency may well end up below $99 to US$1 during next week. Where it will end? No one really knows, except may be central bankers?  One person within the financial system told ICInsider.com that some corporations and individuals have been squeezed holding the US dollar when Bank of Jamaica launched the index bond which sucked liquidity out of the market for Jamaican dollars.

What is really happening? |  ICInsider.com spoke to two persons within the financial sector who are in a position to say what’s going on. One said that corporate clients are no longer demanding FX as they did before since the announcement that the IMF board would be reviewing Jamaica’s application for funding. Individuals who had bought FX earlier are now offloading, fearing further revaluation of the Jamaican dollar. Even financial institutions are off loading into the market. Both respondents said that supply is adequate to meet demand as such persons are not rushing to buy now as they may purchase what they need later at a lower price.

Developments are really worth watching as liquidity returns to the market with far more positive sentiment that before April.

About IC Insider.com
Обновили на порносайте pornobolt.tv порно страничку о том как парень выебал пизду мачехи, которая устала от своего муженька Комиксы, Манга читать онлайн на Русском языке

Brand new Partner with our doctors to make you happy is Omtogel RTP

Play Pin-up aviator Slots and e-Diet in Polska.