Authorized dealers added to their stockpile of foreign exchange driving it up by US$12 million Tuesday, bringing the net purchases since the end of June, to US$177 million by Jamaica’s foreign exchange dealers.
In Tuesday’s trading, dealers bought US$49,290,241 and sold US$37,062,318 compared to US$51,667,783 purchased and US$35,418,341 sold on Monday, of all currencies.
In US dollar trading, dealers bought US$47,271,163 compared to US$46,205,956 on Monday. The buying rate for the US dollar rose 23 cents to $126.49. A total of US$35,570,768 was sold versus US$32,601,043 on Monday, with the selling rate rising 4 cents to end at $127.03. The Canadian dollar buying rate rose 68 cents to end at $95.26, with dealers buying C$1,094,482 and selling C$799,637 at an average rate that rose $1.46 to $98.44. The average rate for buying the British Pound dropped $2.53 to $160.21 for the purchase of £812,742, while £483,897 was sold to end at $164.02, for a rise of 60 cents.
At the end of trading, the selling rate for the Euro, dropped 53 cents to close at J$142.20 from Monday’s rate, according to data from Bank of Jamaica, The US dollar equivalent of other currencies traded amounts to US$165,383 being bought, while US$247,048 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Tuesday, include a fall of $1.30 in the highest buying rate of Canadian Dollar to close at $98.20, a jump of $1.12 in the lowest buying rate to end at $78.97, while the highest selling rate rose $1.39 to $102.69 and the lowest selling rate declined by $1.50 to $90. Trading in the British Pound resulted in a drop of $2.20 in the highest buying rate to $164.80, the highest selling rate dropped $3.85 to close at $168.68 and lowest selling rate rose $3 to close of $159.
Stock pile rises further to US$177M – Tuesday
August 16, 2016 by IC Insider.com
Filed Under: Feature Stories, FX Market, Stock Market Tagged With: Bank Of Jamaica, BOJ, British Pound, Canadian dollar, Daily trading activity, euro, euro v J$, FX trading, jamaican dollar, US Dollar
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