On January 1973 it took only 77 Jamaican cents to buy one United States dollar, roughly 43 years later it now requires an average of 119 of the local currency to purchase one US dollar. A technical assessment of the currency movement suggests that the fall in the value could be coming to an end sooner than later.
Having being trading at 77 Jamaican cents to the US dollar for a number of years, by the January 10, 1973, the Jamaican dollar was devalued by 15 percent to 91 cents to one US dollar. On the January 13, 1978 the official rate had moved to $1.05, by May 10 the rate ended at $1.55 and ended at $1.69 on the last day of the year. On May 2, 1979 the rate moved to $1.78 where it stayed until November 1983, at which stage the rate moved to $3.15. By 1985 the rate climbed to $5.50 and to $6.50 by the end of 1989, taking 365 percent more Jamaican dollars to buy the US dollar, since 1983. Ten years later in 1999, the rate reached $41.42, requiring 637 percent more local currency to but one US dollar than ten years before and by the end of 2009 it moved to $89.60, requiring just over twice the amount of Jamaican dollars for exchange for one US dollar and at the end of trading on Friday surpassed J$119 to 1 US dollar for the first time, requiring 33 percent more Jamaican dollars to purchase the US dollar, than at the end of 2009.
Trading ended Friday with the equivalent of US$32,449,484 bought by dealers, compared with US$53,172,006 on Thursday, while they sold the equivalent of US$29,004,619, versus US$58,244,225 previously. In US dollar trading , dealers bought US$30,260,875 compared to US$50,560,723 on Thursday.
The buying rate for the US dollar fell 20 cents to $118.45 and US$27,678,764 was sold versus US$56,905,545 on Thursday, the selling rate rose 4 cents to close at $119.02. The Canadian dollar buying rate added 16 cents to $86.92, with dealers buying C$849,774 and selling C$480,605, at an average rate that lost 60 cents to $88.55. The rate for buying the British Pound dropped $1 to $178.09 for the purchase of £965,327, while £529,965 was sold, at an average rate that rose 64 cents to end at $181.41. At the end of trading, it took J$134.31 to purchase the Euro, with a jump of $1.73 on Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$131.93, for a rise of $2.06 from Thursday’s rate. The US dollar equivalent of other currencies traded, amounts to US$113,653 being bought, while US$160,542 was sold.
Highs & Lows| The highest buying rate for the US dollar dropped $1.38 on Friday to $119.12, the lowest buying rate gained 16 cents to $97.44, 
the highest selling rate ended 21 cents higher at $124.87 while the lowest selling rate dived $1.74 lower to $97.45. The highest buying rate for the Canadian dollar rose 69 cents to $89.69, the lowest buying rate dipped $1.03 to $70.43, the highest selling rate climbed 13 cents to end at $91.53 and the lowest selling rate rose 50 cents to $85.50. The highest buying rate for the British Pound, added 12 cents to end at $181.50, the lowest buying rate slipped 12 cents to $145.46, the highest selling rate climbed $1.72 to $187.52 and the lowest selling rate dropped 40 cents to $175.
Only 2 cents away on Thursday from J$119
The Jamaican dollar at the end of trading on Thursday declined further against the US dollar to be just 2 cents away from J$119 to 1. Trading ended with the equivalent of US$53,172,006 bought by dealers, compared with US$29,454,444 on Wednesday, while they sold the equivalent of US$58,244,225, versus US$38,709,609 previously.
In US dollar trading , dealers bought US$50,560,723 compared to US$27,318,495 on Wednesday. The buying rate for the US dollar rose 34 cents to $118.65 and US$56,905,545 was sold versus US$37,086,688 on Wednesday, the selling rate rose 2 cents to close at $118.98. The Canadian dollar buying rate fell 26 cents to $86.76, with dealers buying C$925,551 and selling C$857,418, at an average rate that lost 40 cents to $89.15. 
The rate for buying the British Pound rose 40 cents to $179.09 for the purchase of £1,110,369, while £345,791 was sold, at an average rate that dropped 67 cents to end at $180.76. At the end of trading, it took J$132.58 to purchase the Euro, with a rise of 28 cents on Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.88, for a rise of 40 cents from Wednesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$258,627 being bought, while US$170,855 was sold.
Highs & Lows| The highest buying rate for the US dollar on Thursday, the lowest buying and the highest selling rates remained at $120.50, $97.28 and $124.66 respectively while the lowest selling rate dived $16.11 to $99.19.
The highest buying rate for the Canadian dollar declined $1.50 to $89, the lowest buying rate remained at $71.46, the highest selling rate declined 73 cents to end at $91.40 and the lowest selling rate slipped 50 cents to $85. The highest buying rate for the British Pound, dropped $2.62 to $181.38, the lowest buying rate dropped $1.66 to $145.58, the highest selling rate dived $4.02 to $185.80 and the lowest selling rate dropped 10 cents to $175.40.
J$ racing lower vs US on Wednesday
The Jamaican dollar declined further against the US on Wednesday as trading ended with the equivalent of US$29,454,444 bought by dealers, compared with US$28,126,519 on Tuesday, while they sold the equivalent of US$38,709,609, versus US$27,742,141 previously.
In US dollar trading , dealers bought US$27,318,495 compared to US$24,426,414 on Tuesday. The buying rate for the US dollar rose 25 cents to $118.31 and US$37,086,688 was sold versus US$26,566,997 on Tuesday, the selling rate rose 14 cents to close at $118.96. The Canadian dollar buying rate rose 38 cents to $87.01, with dealers buying C$987,645 and selling C$854,933, at an average rate that added 75 cents to $89.55. 
The rate for buying the British Pound fell $2.36 to $178.69 for the purchase of £882,108, while £446,384 was sold, at an average rate that dropped $1.28 to end at $181.43. At the end of trading, it took J$132.29 to purchase the Euro, with a fall by 72 cents on Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.48, for a decline of 70 cents from Tuesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$77,228 being bought, while US$298,488 was sold.
Highs & Lows| The highest buying rate for the US dollar jumped $1.42 cents to $120.50 on Wednesday. The lowest buying rate and the highest selling rate remained at $97.28 and $124.66 respectively and the lowest selling rate jumped $18.02 to $115.30. 
The highest buying rate for the Canadian dollar jumped $1.30 to $90.50, the lowest buying rate rose 8 cents to end at $71.46, the highest selling rate declined 96 cents to end at $92.13 and the lowest selling rate remained unchanged at $85.50. The highest buying rate for the British Pound, gained 80 cents to $184, the lowest buying rate slipped 92 cents to $147.24, the highest selling rate climbed $1.66 to $189.82 and the lowest selling rate dropped $2 to $175.50.
J$ loses modestly vs US on Tuesday
The Jamaican dollar loss modestly against the US on Tuesday as trading ended with the equivalent of US$28,126,519 bought by dealers, compared with US$37,071,417 on Monday, while they sold the equivalent of US$27,742,141, versus US$38,611,906 previously.
In US dollar trading, dealers bought US$24,426,414 compared to US$34,186,451 on Monday. The buying rate for the US dollar rose 1 cent to $118.06 and US$26,566,997 was sold versus US$35,640,829 on Monday, the selling rate rose 1 cent to close at $118.82. The Canadian dollar buying rate fell 27 cents to $86.63, with dealers buying C$756,523 and selling C$636,593, at an average rate that fell $1.63 to $88.80. 
The rate for buying the British Pound climbed 32 cents to $181.05 for the purchase of £1,995,879, while £379,448 was sold, at an average rate that dropped $1.65 to end at $182.71. At the end of trading, it took J$133.01 to purchase the Euro, with a fall by $2.17 on Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$130.17, for a decline of $2.26 from Monday’s rate. The US dollar equivalent of other currencies traded, amounts to US$84,437 being bought, while US$115,923 was sold.
Highs & Lows| The highest buying rate for the US dollar 
rose 3 cents to $119.08 on Tuesday. The lowest buying rate, the highest and lowest selling rates remained at $97.28, $124.66 and $97.28 respectively. The highest buying rate for the Canadian dollar dropped 90 cents to $89.20, the lowest buying rate fell $1 to end at $71.38, the highest selling rate declined 21 cents to end at $93.09 and the lowest selling rate remained unchanged at $85.50. The highest buying rate for the British Pound, dropped $1.80 to $183.20, the lowest buying rate slipped 91 cents to $148.16, the highest selling rate dived $4.01 to $188.16 and the lowest selling rate was unchanged at $177.50.
J$ made modest gains vs US on Monday
The Jamaican dollar gained modestly against the US on Monday as trading ended with the equivalent of US$37,071,417 bought by dealers, compared with US$31,852,692 on Friday, while they sold the equivalent of US$38,611,906, versus US$28,523,499 previously.
In US dollar trading , dealers bought US$34,186,451 compared to US$29,664,276 on Friday. The buying rate for the US dollar fell 13 cents to $118.05 and US$35,640,829 was sold versus US$27,412,881 on Friday, the selling rate slipped 1 cent to close at $118.81
The Canadian dollar buying rate fell 65 cents to $86.90, with dealers buying C$1,201,346 and selling C$2,466,912, at an average rate that rose 11 cents to $90.43. The rate for buying the British Pound fell $1.11 to $180.73 for the purchase of £1,155,490, while £591,450 was sold, at an average rate that rose 25 cents to end at $184.36. At the end of trading, it took J$135.18 to purchase the Euro, a rise of 79 cents on Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$132.44, for an increase of 69 cents from Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$231,560 being bought, while US$175,719 was sold.
Highs & Lows| The highest buying rate for the US dollar rose 5 cents to $119.05 on Monday. 
The lowest buying rate and the highest selling rate remained at $97.28 and $124.66 respectively, while the lowest selling rate dropped $18.02 to $97.28. The highest buying rate for the Canadian dollar dropped 20 cents to $90.10, the lowest buying rate added 75 cents to end at $72.38, the highest selling rate rose 21 cents to end at $93.30 and the lowest selling rate fell $1.20 to close at $85.50. The highest buying rate for the British Pound, rose 35 cents to $185, the lowest buying rate gained $1.08 to $149.07, the highest selling rate jumped $2.56 to $192.17 and the lowest selling rate was unchanged at $177.50.
J$ value slips slightly on Thursday
On Thursday, foreign currencies trading ended with the equivalent of US$26,978,758 bought by dealers, compared with US$28,936,806 on Wednesday, while they sold the equivalent of US$26,028,106, versus US$30,128,813 previously.
In US dollar trading , dealers bought US$24,942,235 compared to US$26,540,452 on Wednesday. The buying rate for the US dollar added 23 cents to $118.19 and US$24,919,250 was sold versus US$29,051,112 on Wednesday, the selling rate rose 1 cent to close at $118.76. The Canadian dollar buying rate fell 35 cents to $86.88, with dealers buying C$597,553 and selling C$435,435, at an average rate that rose 2 cents to $89.14. 
The rate for buying the British Pound climbed 53 cents to $180.43 for the purchase of £916,625, while £316,922 was sold, at an average rate that rose 12 cents to end at $182.97. At the end of trading, it took J$134.14 to purchase the Euro, a rise of 26 cents on Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$131.24, for a fall of 33 cents from Wednesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$197,967 being bought, while US$293,765 was sold.
Highs & Lows| The highest buying rate for the US dollar rose 35 cents to $119.30 on Thursday. The lowest buying, the highest and the lowest selling rates remained at $97.19, $124.55 and $97.19 respectively. 
The highest buying rate for the Canadian dollar gained $1.20 to $91.20, the lowest buying rate added 16 cents to $71.21, the highest selling rate rose 50 cents to end at $92.50 and the lowest selling rate lost 50 cents to end at $85.50. The highest buying rate for the British Pound, rose 60 cents to $184.50, the lowest buying rate gained 83 cents to $147.49, the highest selling rate climbed $2.31 to $190.14 and the lowest selling rate fell $1 to $176.
FX flows normalise on Wednesday
On Wednesday, foreign currencies trading returned to normalise levels with the equivalent of US$28,936,806 bought by dealers, up sharply from US$84,319,871 on Tuesday, while they sold the equivalent of US$30,128,813, well up on the US$76,815,510 previously.
In US dollar trading , dealers bought US$26,540,452 compared to US$81,554,806 on Tuesday. The buying rate for the US dollar fell 51 cents to $117.96 and US$29,051,112 was sold versus US$74,978,636 on Tuesday, the selling rate rose 1 cent to close at $118.75. 
The Canadian dollar buying rate gained 12 cents to $87.23, with dealers buying C$892,891and selling C$551,153, at an average rate that fell 15 cents to $89.12. The rate for buying the British Pound climbed 50 cents to $179.90 for the purchase of £1,080,602, while £410,197 was sold, at an average rate that rose $1.35 to end at $182.85. At the end of trading, it took J$133.88 to purchase the Euro, a fall of 19 cents from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$131.57, for a rise from Tuesday’s rate of 33 cents. The US dollar equivalent of other currencies traded, amounts to US$88,035 being bought, while US$32,489 was sold.
Highs & Lows| The highest buying rate for the US dollar dropped 10 cents to $118.95 on Wednesday. 
The lowest buying and the highest selling rates remained at $97.19, and $124.55 respectively, while the lowest selling rose 41 cents to $97.19. The highest buying rate for the Canadian dollar rose 50 cents to $90, the lowest buying rate remained at $71.05, the highest selling rate loss 50 cents to end at $92 and the lowest selling rate gained 40 cents to end at $86. The highest buying rate for the British Pound, rose $1.90 to $183.90, the lowest buying rate remained at $146.66, the highest selling rate climbed $2.29 to $187.83 and the lowest selling rate rose 70 cents to $177.
FX inflows jump sharply on Tuesday
On Tuesday purchases by dealers of foreign currencies saw buying of the equivalent of US$84,319,871, up sharply from US$40,657,425 on Monday, while they sold the equivalent of US$76,815,510, well up on the US$34,677,307 previously.
In US dollar trading , dealers bought US$81,554,806 compared to US$36,337,858 on Monday. The buying rate for the US dollar rose 48 cents to $118.47 and US$74,978,636 was sold versus US$32,291,854 on Monday, the selling rate rose 2 cents to close at $118.74. 
The Canadian dollar buying rate gained 88 cents to $87.11, with dealers buying C$1,081,845 and selling C$681,338, at an average rate that rose 60 cents to $89.27. The rate for buying the British Pound climbed 28 cents to $179.40 for the purchase of £1,141,587, while £533,676 was sold, at an average rate that declined 37 cents to end at $181.50. At the end of trading, it took J$134.07 to purchase the Euro, a rise of 12 cents on Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$131.24, for a fall from Monday’s rate by 4 cents. The US dollar equivalent of other currencies traded, amounts to US$240,864 being bought, while US$508,938 was sold.
Highs & Lows| The highest buying rate for the US dollar increased 5 cents to $119.05 on Tuesday. 
The lowest buying, the highest selling and the lowest selling rates remained at $97.19, $124.55 and $96.78 respectively. The highest buying rate for the Canadian dollar fell 50 cents to $89.50, the lowest buying rate rose 8 cents to $71.05, the highest selling rate gained 48 cents to end at $92.50 and the lowest selling rate was up 60 cents to end at $85.60. The highest buying rate for the British Pound, fell $1.40 to $182, the lowest buying rate lost 50 cents to $146.66, the highest selling rate fell $4.17 to $185.54 and the lowest selling rate rose 30 cents to $176.30.
FX market back to normal – Friday
The foreign exchange market returned to normal on Friday the day after Bank of Jamaica had a massive intervention with over the US$100 million market on Thursday. The local currency moved even closer to $120 to the US dollar with a 6 cents fall. Purchases by dealers of foreign currencies saw buying of the equivalent of US$34,967,631 in contrast to large sum of US$124,150,664 on Thursday, while they sold the equivalent of US$28,565,935, well down from US$118,010,252 previously.
In US dollar trading , dealers bought US$30,769,583 compared to US$121,494,099 on Thursday. The buying rate for the US dollar declined 36 cents to $118.08 and US$26,705,554 was sold versus US$116,060,844 on Thursday, the selling rate rose 6 cents to close at $118.68. 
The Canadian dollar buying rate fell 17 cents to $86.80, with dealers buying C$789,575 and selling C$779,936, at an average rate that dipped 25 cents to $89.56. The rate for buying the British Pound gained 85 cents to $180.43 for the purchase of £2,171,885, while £784,302 was sold, at an average rate that rose 51 cents to end at $183.09. At the end of trading, it took J$133.12 to purchase the Euro, a rise of 69 cents on Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$130.92, for an increase on Thursday’s rate by $1.47. Other currencies bought,
Highs & Lows| The highest and lowest rates for trading the US dollarwere all unchanged on Friday. The highest and lowest buying, the highest and 
lowest selling rates ended at $117.60, $96.19, $123.26 and $96.15 respectively. The highest buying rate for the Canadian dollar fell 90 cents to $90.10, the lowest buying rate remained unchanged at $71.63, the highest selling rate fell 16 cents to end at $92.34 and the lowest selling rate added 70 cents to end at $87. The highest buying rate for the British Pound, remained unchanged at $183.20, the lowest buying rate gained 5 cents to $147.33, the highest selling rate jumped $3 to $189.92 and the lowest selling rate climbed $2 to $178.
Massive BOJ FX sale on Thursday
Bank of Jamaica intervention into the foreign exchange market pushed trading well over the US$100 million market on Thursday, that did not stop the local currency form declining, as it moved even closer to $120 to the US dollar. The selling rate for the Jamaican dollar moved up by 3 cents on Thursday, meanwhile the highest rate fell to $123.26 on Thursday from J$124.12 on Wednesday.
Purchases by dealers of foreign currencies on saw buying of the equivalent of US$124,150,664 in stark contrast to US$26,434,145 on Wednesday, while they sold the equivalent of US$118,010,252, previously US$32,677,054.
In US dollar trading , dealers bought US$121,494,099 compared to US$23,310,357 on Wednesday. The buying rate for the US dollar is up 76 cents to $118.44 and US$116,060,844 was sold versus US$31,118,844 on Wednesday, the selling rate rose 3 cents to close at $118.62.
The Canadian dollar buying rate rose 11 cents to $86.97, with dealers buying C$990,249 and selling C$713,506, at an average rate that climbed 72 cents to $89.81. The rate for buying the British Pound gained 80 cents to $179.58 for the purchase of £1,220,729, while £784,302 was sold, at an average rate that rose 31 cents to end at $182.58. At the end of trading, it took J$132.43 to purchase the Euro, a fall of 3 cents from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.45, a decline from Wednesday’s rate of 35 cents. Other currencies bought, amounted to the equivalent of US$78,385, while the equivalent of US$201,993 was sold.
Highs & Lows| The highest and lowest rates for trading the US dollar all declined on Thursday. The highest buying rate dropped $1.70 to $117.60, 
the lowest buying rate fell 67 cents to $96.19, the highest selling rate lost 86 cents to end at $123.26 and the lowest selling rate dived $19.15 to $96.15. The highest buying rate for the Canadian dollar climbed 50 cents to $91, the lowest buying rate is up 66 cents to $71.63 and highest selling rate fell 50 cents to end at $92.50, the lowest selling rate added $1.30 to end at $86.30. The highest buying rate for the British Pound, climbed 50 cents to $183.20, the lowest buying rate jumped 87 cents to $147.28, the highest selling rate dropped $1.83 to $186.92 and the lowest selling rate remained unchanged at $176.