Authorized dealers added another $9.5 million to their stockpile of foreign exchange on Monday, moving the net purchases since the end of June, to US$199 million by Jamaica’s foreign exchange dealers as the selling rate for the United States dollar remained unchanged.
In Monday’s trading, dealers bought US$52,424,074 and sold US$42,905,414 compared to US$44,787,776 purchased and US$38,925,904 sold on Friday, of all currencies.
In US dollar trading, dealers bought US$49,240,991 compared to US$42,010,057 on Friday. The buying rate for the US dollar fell 4 cents to $126.61. A total of US$40,550,485 was sold versus US$36,526,935 on Friday, with the selling rate remaining unchanged at $127.20.
The Canadian dollar buying rate fell 20 cents to end at $95.42, with dealers buying C$1,562,757 and selling C$1,018,193 at an average rate that dropped 16 cents to $99.12. The average rate for buying the British Pound dived $1.56 to $161.97 for the purchase of £1,165,893, while £859,281 was sold with the rate climbing 92 cents to end at $166.99.
At the end of trading, the selling rate for the Euro, jumped $1.29 to close at J$143.88 from Friday’s rate, according to data from Bank of Jamaica, The US dollar equivalent of other currencies traded amounts to US$513,890 being bought, while US$433,430 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Monday, include a drop of 66 cents in the lowest selling rate for the US dollar to $103.54, a rise of $1.40 in the highest buying rate of Canadian Dollar to close at $100.20, a drop of $3 in the lowest selling rate to end at $92. Trading in the British Pound resulted in a fall of $4.34 in the highest buying rate to $166.40, slippage of 83 cents in the lowest buying rate to $134.05, a slide of $1.08 in the highest selling rate to end at $174.42, while the lowest selling rate declined by $2 to close of $158.
Price increases slowed in July
With more than half of the calendar year gone, overall price movements in Jamaica remained slightly negative at minus 0.1 percent, but inflation for the last twelve months amounts to 2.1 percent, while inflation since April is up 1.2 percent.
The rise in the Inflation Rate since April 2016, emanated mainly from 0.5 percent rise in prices in July 2016, according to the latest figures released by the Statistical Institute of Jamaica and a 0.9 percent movement in June.
July’s prices were mainly impacted by Electricity, Gas and Other Fuels rising 4.6 percent and Water Supply and Miscellaneous Services Related to the dwelling climbing 2.8 percent.
Increased fuel prices added to inflation.
Food and Non-Alcoholic Beverages increased by a mere 0.3 percent due mainly to increased prices for vegetables and starchy foods. Price movements elsewhere for July were mild.
The decline in the price of oil on the world market in recent weeks should have a moderating effect on prices overall in August and September. Regardless, if inflation were to remain at the 0.5 percent per month as occurred in July the country is likely to enjoy one of the lowest year of inflation for some time and Jamaica seems set to report an inflation rate that is below 2 percent for 2016.
FX stock pile now US$189M – Friday
Authorized dealers added another $6 million to their stockpile of foreign exchange on Friday moving the net purchases since the end of June, to US$189 million by Jamaica’s foreign exchange dealers as the selling rate for the United States dollar rose again.
In Friday’s trading, dealers bought US$44,787,776 and sold US$38,925,904 compared to US$43,395,032 purchased and US$37,474,064 sold on Thursday, of all currencies.
In US dollar trading, dealers bought US$42,010,057 compared to US$39,678,921 on Thursday. The buying rate for the US dollar fell 1 cent to $126.65. A total of US$36,526,935 was sold versus US$35,507,077 on Thursday, with the selling rate rising 5 cents to end at $127.20.
The Canadian dollar buying rate fell 54 cents to end at $95.62, with dealers buying C$1,077,564 and selling C$1,486,362 at an average rate that jumped $1.14 to $99.28. The average rate for buying the British Pound climbed $1.01 to $163.53 for the purchase of £1,409,548, while £854,904 was sold with the rate jumping by $1.15 to end at $166.07.
At the end of trading, the selling rate for the Euro, dropped $2.33 to close at J$142.59 from Thursday’s rate, according to data from Bank of Jamaica, The US dollar equivalent of other currencies traded amounts to US$457,288 being bought, while US$411,932 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Friday, include a drop of $18.80 in the lowest selling rate for the US dollar to $104.20, a rise of 97 cents in the highest selling rate of Canadian Dollar to close at $103.68, a jumped of $5 in the lowest selling rate to end at $95. Trading in the British Pound resulted in a rise of $3.64 in the highest buying rate to $170.74, a rise of $1.91 in the lowest buying rate to $134.88, a rise of $2.48 in the lowest buying rate to end at $175.50 while the lowest selling rate climbed $2 to close of $160.
FX stock pile now US$183M – Thursday
Authorized dealers added $6 million to their stockpile of foreign exchange on Thursday, moving the net purchases since the end of June, to just above US$183 million by Jamaica’s foreign exchange dealers.
In Thursday’s trading, dealers bought US$43,395,032 and sold US$37,474,064 compared to US$45,088,179 purchased and US$44,439,314 sold on Wednesday, of all currencies.
In US dollar trading, dealers bought US$39,678,921 compared to US$41,895,891 on Wednesday. The buying rate for the US dollar rose 9 cents to $126.66. A total of US$35,507,077 was sold versus US$42,609,761 on Wednesday, with the selling rate rising 3 cents to end at $127.15.
The Canadian dollar buying rate fell 25 cents to end at $96.16, with dealers buying C$1,276,184 and selling C$953,348 at an average rate that slipped 26 cents to $98.14. The average rate for buying the British Pound rose 13 cents to $162.52 for the purchase of £1,784,815, while £631,596 was sold with the rate falling by 17 cents to end at $164.92.
At the end of trading, the selling rate for the Euro, rose $1.90 to close at J$144.92 from Wednesday’s rate, according to data from Bank of Jamaica, The US dollar equivalent of other currencies traded amounts to US$457,288 being bought, while US$411,932 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 rise of $19.51 in the lowest selling rate for the US dollar to $123, a fall of $1 in the highest buying rate of Canadian Dollar to close at $99.50, a dropped of $2 in the lowest selling rate to end at $90. Trading in the British Pound resulted in a rise of $1.50 in the highest buying rate to $167.10 and the lowest selling rate fell 60 cents to close of $158.
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.
Stock pile rises further to US$177M – Tuesday
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.
US$16M added to stock pile – Monday
Authorized dealers held on to US$49 million in total foreign exchange purchased sine last week Monday, while the selling rate for the Jamaica versus the US dollar slid by 31 cents as US$16 million more was added to the stock pile by dealers. Monday’s net purchase puts the surplus bought since the end of June, to US$165 million by Jamaica’s foreign exchange dealers.
In Monday’s trading, dealers bought US$51,667,783 and sold US$35,418,341 compared to US$32,516,814 purchased and US$22,897,652 sold on Friday, of all currencies.
In US dollar trading, dealers bought US$46,205,956 compared to US$29,161,988 on Friday. The buying rate for the US dollar rose 9 cents to $126.26.
A total of US$32,601,043 was sold versus US$21,536,270 on Friday, with the selling rate rising 6 cents to end at $126.99. The Canadian dollar buying rate rose 14 cents to end at $94.58, with dealers buying C$1,666,225 and selling C$807,331 at an average rate that fell 7 cents to $96.98. The average rate for buying the British Pound climbed 36 cents to $162.74 for the purchase of £3,041,453, while £1,392,745 was sold to end at $164.62, for a rise of 83 cents.
At the end of trading, the selling rate for the Euro, jumped $1.70 to close at J$142.73 from Friday’s rate, 
according to data from Bank of Jamaica, currency at J$137.02 for a jump of $2.72 from the rate on Wednesday. The US dollar equivalent of other currencies traded amounts to US$293,394 being bought, while US$395,203 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Monday, include a rise of $1.70 in the highest buying rate of Canadian Dollar to close at $99.50, a jump of $11.90 in the lowest selling rate to end at $91.50. Trading in the British Pound resulted in a drop of $2 in the lowest selling rate to close of $156.
Now US$149m stock pile – Friday
Jamaica’s foreign exchange dealers bought US$9.6 million more than the amount sold on Friday, putting the surplus bought since the end of June to US$149 million, with the rate of the Jamaican dollar falling marginally against the United States currency.
In Friday’s trading, dealers bought US$32,516,814 and sold US$22,897,652 compared to US$25,425,966 purchased and US$18,298,372 sold on Thursday, of all currencies.
In US dollar trading, dealers bought US$29,161,988 compared to US$21,977,393 on Thursday. The buying rate for the US dollar rose 26 cents to $126.17. A total of US$21,536,270 was sold versus US$15,740,610 on Thursday, with the selling rate rising 16 cents to end at $126.93. 
The Canadian dollar buying rate dropped $1.81 to end at $94.44, with dealers buying C$1,060,908 and selling C$950,186 at an average rate that fell 18 cents to $97.05. The average rate for buying the British Pound climbed $1.22 to $162.38 for the purchase of £1,861,633, while £305,503 was sold to end at a rate of $163.79, for a fall of 83 cents.
At the end of trading, the selling rate for the Euro, fell 12 cents to close at J$141.04 from Thursday’s rate, according to data from Bank of Jamaica, The US dollar equivalent of other currencies traded amounts to US$164,707 being bought, while US$240,602 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Friday, include a drop of $19.35 in the lowest buying rate of the US dollar to $103.45, a fall of 70 cents in the highest buying rate of Canadian Dollar to close at $97.80, a dive of $6.08 in the lowest selling rate to end at $77.60. Trading in the British Pound resulted in a jump of $3 in the highest buying rate to $167 and a rise of $2.30 in the lowest selling rate to close of $158.
US$ build bumps up to US$139m – Thursday
Jamaica’s foreign exchange dealers bought US$7 million more than the amount sold on Thursday, putting the surplus bought since the end of June to US$139 million, with the rate of the Jamaican dollar falling marginally against the United States currency.
In Thursday’s trading, dealers bought US$25,425,966 and sold US$18,298,372 compared to US$35,858,443 purchased and US$24,832,468 sold on Wednesday, of all currencies.
In US dollar trading, dealers bought US$21,977,393 compared to US$32,777,120 on Wednesday. The buying rate for the US dollar fell 7 cents to $125.91. A total of US$15,740,610 was sold versus US$23,290,324 on Wednesday, with the selling rate rising 11 cents to end at $126.77.
The Canadian dollar buying rate climbed $2.61 to end at $96.25, with dealers buying C$2,862,171 and selling C$2,530,465 at an average rate that increased by $1.02 to $97.23. The average rate for buying the British Pound fell $1.02 to $161.16 for the purchase of £902,623, while £404,637 was sold to end at a rate of $164.67, for a gain of $1.69.
At the end of trading, the selling rate for the Euro, fell 29 cents to close at J$141.16 from Tuesday’s rate, according to data from Bank of Jamaica, as there were no posted rates for the euro for Wednesday. Dealers purchased the European common currency at J$135.13 for a rise of $2.25 from the rate on Tuesday. The US dollar equivalent of other currencies traded amounts to US$105,256 being bought, while US$91,240 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 rise of 55 cents in the highest buying rate of the US dollar to $127.70, a rise of 90 cents in the highest buying rate of Canadian Dollar to close at $98.50, a rise of 83 cents to the lowest buying rate to $77.85, an increase of $1.08 in the highest selling rate to $101.30 and a drop of $4.32 in the lowest selling rate to $83.68. Trading in the British Pound resulted in a dip of $2.20 in the highest buying rate to $164 and a fall of $1.30 in the lowest selling rate to close of $156.70.
US$ build up $11m to US$132m – Wednesday
Jamaica’s foreign exchange dealers bought US$11 million more than the amount sold on Wednesday, putting the surplus bought since the end of June to US$132 million, with the rate of the Jamaican dollar rising marginally against the United States currency.
In Wednesday’s trading, dealers bought US$35,858,443 and sold US$24,832,468 compared to US$32,763,938 purchased and US$35,875,715 sold on Tuesday, of all currencies.
In US dollar trading, dealers bought US$32,777,120 compared to US$29,193,791 on Tuesday. The buying rate for the US dollar rose 16 cents to $125.98.
A total of US$23,290,324 was sold versus US$34,459,336 on Tuesday, with the selling rate falling 5 cents to end at $126.66. The Canadian dollar buying rate climbed 18 cents to end at $93.65, with dealers buying C$1,287,555 and selling C$914,662 at an average rate that increased by 96 cents to $96.21. The average rate for buying the British Pound fell 43 cents to $161.18 for the purchase of £1,537,436, while £513,286 was sold to end at a rate of $162.98, for a gain of $1.80.
No rates were posted by Bank Of Jamaica for the Euro, on Wednesday. The US dollar 
equivalent of other currencies traded amounts to US$145,042 being bought, while US$186,931 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 fall of 85 cents in the highest buying rate of the US dollar to $127.15, a jump of $19.75 in the lowest selling rate to $123, a decline of $1 in the lowest selling rate of Canadian Dollar to close at $88, while trading in the British Pound resulted in a dip of $1.75 in the lowest selling rate to $158.