Stock pile moves just above US$177M – Wednesday

Authorized dealers added under $1 million to their stockpile of foreign exchange on Wednesday, moving the net purchases since the end of June, to just above US$177 million by Jamaica’s foreign exchange dealers.
In Wednesday’s trading, dealers bought US$45,088,179 and sold US$44,439,314 compared to US$49,290,241 purchased and US$37,062,318 sold on Tuesday, of all currencies.
In US dollar trading, dealers bought US$41,895,891 compared to US$47,271,163 on Tuesday. The buying rate for the US dollar rose 8 cents to $126.57. A total of US$42,609,761 was sold versus US$35,570,768 on Tuesday, with the selling rate rising 9 cents to end at $127.12. The Canadian dollar buying rate rose $1.15 to end at $96.41, with dealers buying C$1,640,529 and selling C$980,057 at an average rate that slipped 4 cents to $98.40. The average rate for buying the British Pound jumped $2.18 to $162.39 for the purchase of £1,307,986, while £745,124 was sold to end at $165.09, for a rise of $1.07.
At the end of trading, the selling rate for the Euro, rose 82 cents to close at J$143.02 from Tuesday’s rate, according to data from Bank of Jamaica, The US dollar equivalent of other currencies traded amounts to US$264,486 being bought, while US$103,202 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Wednesday, include a rise of $2.30 in the highest buying rate of the Canadian Dollar to close at $100.50, a jump of $2 in the lowest selling rate to end at $92. Trading in the British Pound resulted in a drop of 80 cents in the highest buying rate to $165.60, the highest selling rate jumped $4.12 to close at $172.80 and lowest selling rate fell 40 cents to close of $158.60.