The foreign exchange market closed on Friday, with dealers buying the equivalent of US$35,541,148 and selling US$47,935,497, in contrast to US$34,538,580 purchased and US$28,970,535 sold on Thursday. The net amount sold includes US$4 equivalent of the Pound was sold than the amount purchased by dealers.
In US dollar trading, dealers bought US$32,883,247 compared to US$31,823,942 on Thursday, as the buying rate for the US dollar rose 13 cents to $123.78. A total of US$41,138,924 was sold versus US$26,895,108 on Thursday with the selling rate rising 21 cents to $124.57.
The Canadian dollar buying rate dipped $1.47 to end at $92.34 with dealers buying C$668,675 and selling C$415,469, at an average rate that lost $1.02 to $95.64. The rate for buying the British Pound fell 35 cents to $175.81 for the purchase of £1,451,605, while £4,434,263 was sold, with the rate climbing by 60 cents to $179.63.
At the end of trading, the selling rate for Euro, fell 11 cents to close at J$141.83, from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$138.90, for a fall of 10 cents from Thursday’s rate. The US dollar equivalent of other currencies traded amounts to US$97,337 being bought, while US$97,985 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the Jamaican dollar traded at in the foreign exchange market on Friday, include, a rise of $29.54 in the highest selling rate of US dollar to end at $160, a rate that seems out of line with other rates the US dollar traded at. There was a fall of $2.90 in the highest buying rate of Canadian dollar to end at $95.30 and a fall of $3.11 in the lowest buying rate to end at $73, lowest selling rate jumped $6.50 to end at $91. The highest buying rate for the British Pound rose $2.50 to $183 and the lowest selling rate slipped $1 to $170.
Sales exceed buying by US$12.5m – Friday
May 13, 2016 by
