In a week when the Jamaican dollar continues to gain in value against the US dollar, the local currency slipped modestly in foreign currency trading on Friday, with inflows rising over Thursday’s intake and ending higher than outflows.
The local currency fell against the euro and British Pound but fell gained against the Euro.
On Friday, the rate the public bought the US dollar at, rose to $125.82 as dealers sold US$50.39 million in US currency, compared US$38.83 million at an average rate of $125.81 on Thursday. US currency purchases by dealers amounted to US$40.20 million on Friday, at an average rate of $124.83, compared to Thursday, with US$44.92 million at $125.
On Friday at midday dealers purchased US$13.5 million at an average rate of J$125.27 and sold US$16.47 million at an average of J$125.83.
At mid-day on Thursday dealers purchased US$10.71 million at an average rate of J$125.15 while they sold US$12.19 million at an average of J$125.79.
Dealers’ purchased US$51.76 million, versus US$50.94 million on Thursday in all currencies in Jamaica’s Forex market and sold US$63.86 million compared with US$43.20 million sold, previously.
The selling rate for the Canadian dollar rose to J$98.31 from J$98.05 at the close on Thursday. The selling rate for the British Pound rose to J$168.91 versus J$168.51 previously and the euro lost value against the Jamaican dollar at J$146.96 to buy the European common currency, versus the prior selling rate of J$150.17.
Stability for Jamaican$ on Friday
December 8, 2017 by
