Net inflows into Jamaican foreign exchange market on Thursday, ended with US$8 million more foreign currency being sold, than bought by dealers, bringing the surplus bought by them down to US$81 million since the end of June. In Thursday’s trading, dealers bought US$29,816,964 while they sold US$38,116,490, compared to US$44,986,438 purchased and US$37,620,031 sold on Wednesday of all currencies, as the rate for the Jamaican dollar ended mixed against all major currencies.
In US dollar trading, dealers sold US$9 million more in United States currency than they bought thus reversing the net inflows on Wednesday. They pulled in US$27,157,682 compared to US$41,842,638 on Wednesday. 
The buying rate for the US dollar fell 13 cents to $125.74. A total of US$36,075,776 was sold versus US$32,713,341 on Wednesday with the selling rate rising 2 cents to end at $126.38. The Canadian dollar buying rate jumped $1.75 to end at $95.22, with dealers buying C$1,319,812 and selling C$1,256,100, at an average rate that declined $1.17 to $97.42. The average rate for buying the British Pound dipped $1.78 to $163.08 for the purchase of £1,197,319, while only £605,882 was sold, with the rate rising 29 cents to $165.50.
At the end of trading, the selling rate for Euro, climbed $2.48 to close at J$141.88 from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$133.36, for $1.68 less than on 
Wednesday. The US dollar equivalent of other currencies traded amounts to US$106,962 being bought, while US$278,966 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Thursday, include, a drop of $1 in the lowest selling rate of the Canadian Dollar to $92, a fall of $2.49, in the highest buying rate of the British Pound to close at $167 and a rise of $2.24 in the highest selling rate to end at $173.07.
Surplus of FX drops to US$80m
July 21, 2016 by
