Jamaican$ inched higher vs US – Thursday

Trading in the foreign market on Thursday resulted in a slight slippage of the value of the Jamaican dollar against the US dollar as US$40.1 million of the US dollar was sold by dealers at an average rate of $127.20 to the US dollar.
On Wednesday US$42.5 million was sold by dealers at an average rate of $127.18. US currency purchases amounted to US$39.2 million on Thursday, at an average rate of $126.31 compared to Wednesday, with US$41 million at $126.29.
Dealers purchased US$46.3 million, versus US$45.3 million on Wednesday in all currencies in Jamaica’s forex market and sold US$46.1 million compared with US$44.8 million of all currencies sold previously.
The selling rate for the Canadian dollar slipped to J$99.14 from J$98.16 at the close on Wednesday. The selling rate for the British Pound dropped to J$167.53 versus J$168.48 on Wednesday and the euro gained value against the Jamaican dollar, to J$149.42 to buy the European common currency, versus J$148.92 previously.

Jamaican$ resumes gaining vs US$ – Wednesday

Trading in the foreign market on Wednesday resulted in a slight slipping of the Jamaican dollar against the US dollar as US$42.5 million of the US dollar was sold by dealers at an average rate of $127.18 to the US dollar, compared to US$34.5 million at an average rate of $127.29 on Tuesday.
US currency purchases amounted to US$41 million on Wednesday, at an average rate of $126.29 compared to Tuesday, with US$37.9 million at $126.08.
Dealers purchased US$45.3 million, versus US$49.8 million on Tuesday in all currencies in Jamaica’s forex market and sold US$44.8 million compared with US$43.8 million previously.
At Midday, dealers bought US$17.9 million at J$126.84 and sold US$11.3 million at J$127.17 compared to the buying of US$16.17 million at J$126.49 and selling of US$13.2 million at J$127.20 at the same time on Tuesday.
The selling rate for the Canadian dollar dropped to J$98.16 from J$99.38 at the close on Tuesday. The selling rate for the British Pound rose to J$168.48 versus J$168.29 on Tuesday and the euro gained value against the Jamaican dollar, to J$148.92 to buy the European common currency, versus J$146.72 previously.

Jamaican $ slips slightly vs US dollar – Tuesday

Trading in the foreign market on Tuesday resulted in a slight slipping of the Jamaican dollar against the US dollar as US$34.49 million of the US dollar was sold by dealers at an average rate of $127.29 to the US dollar.  
On Monday US$43.91 million was sold at an average rate of $127.21. US currency purchases amounted to US$37.86 million on Tuesday, at an average rate of $126.08 compared to Monday, with US$40.76 million at $126.14.
Dealers purchased US$49.81 million, versus US$53.29 million on Monday in all currencies in Jamaica’s forex market and sold US$43.80 million compared with US$54.67 million previously.
At Midday, dealers bought US$16.17 million at J$126.49 and sold US$13.2 million at J$127.20 compared to the buying of US$22.9 million at J$126.81 and selling of US$16.4 million at J$126.99 at the same time on Monday.
The selling rate for the Canadian dollar dropped to J$99.38 from J$101.81 at the close on Monday. The selling rate for the British Pound climbed to J$168.29 versus J$165.89 on Monday and the euro fell in value against the Jamaican dollar, to J$146.72 to buy the European common currency, versus J$147.64 previously.

Jamaican $ gains against 3 majors – Monday

Trading in the foreign market on Monday resulted in more strengthening of the Jamaican dollar as US$43.91 million of the US dollar was sold by dealers at an average rate of $127.21 to the US dollar, compared to US$30.91 million at an average rate of $127.37 on Friday.
US currency purchases amounted to US$40.76 million on Monday, at an average rate of $126.14 compared to Friday, with US$31.74 million at $126.22.
Dealers purchased US$53.29 million, versus US$42.62 million on Friday in all currencies in Jamaica’s forex market and sold US$54.67 million compared with US$53.93 million previously.
At Midday, dealers bought US$22.9 million at J$126.81 and sold US$16.4 million at J$126.99 compared to the buying of US$10.97 million at J$126.67 and selling of US$5.9 million at J$127.24 at the same time on Friday.
The selling rate for the Canadian dollar rose to J$101.81 from J$99.73 at the close on Friday. The selling rate for the British Pound declined to J$165.89 versus J$166.41 on Friday and the euro fell in value against the Jamaican dollar, to J$147.64 to buy the European common currency, versus J$149.12 previously.

Jamaican $ gains against all majors – Friday

Trading in the foreign market during the past week was the highest for the month with US$289 million purchased by dealers of all currencies and selling of US$279 million, while US currency purchased amounted to $228 million and US$210 was sold.
Trading on Friday resulted in more strengthening of the Jamaican dollar as US$30.91 million of the US dollar was sold by dealers at an average rate of $127.37 to the US dollar, compared to US$33.84 million at an average rate of $127.49 on Thursday.
US currency purchases declined from the previous day, to US$31.74 million on Friday, at an average rate of $126.22 compared to Thursday, with US$35.96 million at $126.59.
Dealers purchased US$42.62 million, versus US$46.14 million on Thursday in all currencies in Jamaica’s forex market and sold US$53.93 million compared with US$43.23 million previously.
At Midday, dealers bought US$10.97 million at J$126.67 and sold US$5.9 million at J$127.24 compared to the buying of US$10.58 million at J$126.80 and selling of US$5.35 million at J$127.43 at the same time on Thursday.
The selling rate for the Canadian dollar dropped to J$99.73 from J$100.21 at the close on Thursday. The selling rate for the British Pound declined to J$166.41 versus J$168.47 on Thursday and the euro fell in value against the Jamaican dollar, to J$149.12 to buy the European common currency, versus J$151.76 previously.

Jamaican $ makes modest gain – Thursday

Sale of US dollar by dealers, fell to US$33.84 million at an average rate of $127.49 to the US dollar, at the close of trading, on Thursday, down from US$44.57 million at an average rate of $127.53 on Wednesday.
US currency purchases declined from the previous day to US$35.96 million on Thursday, at an average rate of $126.59 compared to Wednesday, with US$44.40 million at $126.63.
Dealers purchased US$46.14 million, versus US$58.58 million on Wednesday in all currencies in Jamaica’s forex market and sold US$43.23 million compared with US$56.55 million previously.
At Midday, dealers bought US$10.58 million at J$126.80 and sold US$5.35 million at J$127.43 compared to the buying of US$20 million at J$127.10 and selling of US$12.5 million at J$127.59 at the same time on Wednesday.
The selling rate for the Canadian dollar dropped to J$100.21 from J$102.37 at the close on Wednesday. The selling rate for the British Pound climbed to J$168.47 versus J$167.80 on Wednesday and the euro inched up in value against the Jamaican dollar, to J$151.76 to buy the European common currency, versus J$150.68 previously.

Forex inflows well ahead of outflows – Wednesday

Dealers sold US$44.57 million at an average rate of $127.53 to the US dollar, at the close of trading, compared to US$39.74 million at $127.61 on Tuesday.
US currency purchases, amounted to US$44.40 million on Wednesday, at an average rate of $126.63 compared to Tuesday, with US$39.74 million at $126.95.
Dealers purchased US$58.58 million, versus US$54.45 million in all currencies into Jamaica’s forex market and sold US$56.55 million compared with US$56.20 million previously.
At Midday, dealers bought US$20 million at J$127.10 and sold US$12.5 million at J$127.59 compared to the buying of US$19.1 million at J$127.10 and selling of US$15.17 million at J$127.49 at the same time on Tuesday. In the Central Bank foreign exchange auction the weighted average rate of accepted bids of $127.34 as 44 bids amounting to US$25.7 million were entered for the US$10 million that was on offer.
The selling rate for the Canadian dollar rose to J$102.37 from J$101.86 at the close on Tuesday. The selling rate for the British Pound fell to J$167.80 versus J$168.30 on Tuesday and the euro inched up in value against the Jamaican dollar, to J$150.68 to buy the European common currency, versus J$150.16 previously.

 

BOJ cuts planned FX auction sale

Bank of Jamaica (BOJ) is cutting the amount it is committed to sell in its weekly foreign exchange auction B-FXITT, to US$29 million over the next four weeks.
The announced sale, is down from US$40 million that BOJ made available to Authorised Dealers and Cambios from the last Wednesday in September up to last week at US$10 million weekly. The amount to be sold this Wednesday will be US$10 million even as dealers have been selling off surplus foreign currencies, leading to an appreciation of the local currency since September. For the first two weeks of November US$7 million will be available, followed by US$5 million.
The amount to be sold is a fraction that the central bank will be buying from the system under the compulsory surrender requirement set by BOJ.

J$ gains but trading levels dip -Tuesday

Dealers sold US$39.74 million at an average rate of $127.57 to the US dollar, at the close of trading, compared to US$57.69 million at $127.61 on Monday.
US currency purchases, amounted to US$39.74 million on Tuesday, at an average rate of $126.65 compared to Monday, with US$76.03 million at $126.95.
Dealers purchased US$ 54.45 million, versus US$87.10 million in all currencies into Jamaica’s forex market and sold US$56.20 million compared with US$68.80 million previously.
At Midday, dealers bought US$19.1 million at J$127.10 and sold US$15.17 million at J$127.49 compared to the buying of US$37.8 million at J$127.24 and selling of US$28.57 million at J$127.64 at the same time on Monday.
The selling rate for the Canadian dollar rose to J$101.86 from J$101.44 at the close on Monday. The selling rate for the British Pound rose to J$168.30 versus J$166.91 on Monday and the euro dropped in value against the Jamaican dollar, to J$150.16 to buy the European common currency, versus J$150.37 previously.

Forex inflows jump to US$87m on Monday

The Jamaican dollar made more gains in foreign exchange trading on Monday, closing 17 cents better to purchase one US dollar than on Friday, on a day that saw inflows surge to US$87 million for all currencies.
Sales of all currencies into Jamaica’s forex market ended at US$68.80 million, from US$101.2 million, previously. On Friday dealers purchased US$44.14 million, well below the amount bought on Monday.
Dealers sold US$57.69 million at $127.61 at the close of trading up from US$39.51 million at $127.78 on Friday. US currency purchases, amounted to US$76.03 million on Monday, at an average rate of $126.95 compared to Friday, with US$31.08 million at $126.73.
At Midday, dealers bought US$37.8 million at J$127.24 and sold US$28.57 million at J$127.64 compared to the buying of US$13.37 million at J$127.31 and selling of US$11.37 million at J$127.74 at the same time on Friday.
The selling rate for the Canadian dollar fell to J$101.44 from J$101.70 at the close on Friday. The selling rate for the British Pound slipped to J$166.91 versus J$168.55 on Friday and the euro dropped in value against the Jamaican dollar, to J$150.37 to buy the European common currency, versus J$152.45 previously.