The Treasury bills offer that closed on Wednesday saw investors rebuffing the government offering by refusing to bid for the full amount of $400 million offered to mature on Friday, 11 September 2015.
This is the first that this has happened for some time. Investors placed bids for only $305,006,100 for the $400 million offered while the government took up $305,005,500 but at a slightly higher rate of 6.2552 percent than obtained at the July auction. At the July auction the average was 6.217 percent. Full allotment was made for bids with yields ranging between 6 percent and 6.5 percent.
In June 2013 investors rebuffed government’s the 90 days and 182 days offers of Treasury bills. The three months issue that matured on 20 September 2013 for $400 million attracted just $284,330,500 and the six month issue that matured on 20 December 2013 for $400 million but attracted just $201,628,400.
Investors rebuff T-bill offer
J$ slips against all on Wednesday
Purchases by dealers of foreign currencies on Wednesday, resulted in the Jamaican currency losing value against the three main currencies it regularly trades against, but the rate of the local currency has been relatively stable over the past two and a half weeks versus the United States dollar hovering around the $117.40 mark. The market closed with dealers buying the equivalent of US$34,248,600 in contrast to US$38,264,784 on Tuesday, while they sold the equivalent of US$42,427,499, previously US$50,151,893.
In US dollar trading , dealers bought US$31,335,438 compared to US$34,542,850 on Tuesday. The buying rate for the US dollar declined 8 cents to $116.78 and US$41,081,381 was sold versus US$47,644,632 on Tuesday, the selling rate increased 2 cents to $117.41. The Canadian dollar buying rate rose 50 cents to $88.03 with dealers buying C$1,355,970 and selling C$698,801, at an average 
rate that rose 18 cents to $89.93. The rate for buying the British Pound climbed 80 cents to $180.21 for the purchase of £1,076,904, while £460,885 was sold, at an average rate that climbed 59 cents to $182.60. At the end of trading, it took J$129.69 to purchase the Euro, with a rise of 82 cents on Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.17 for a rise of 81 cents on Tuesday’s rate. Other currencies bought, amounted to the equivalent of US$229,051, while the equivalent of US$94,152 was sold.
Highs & Lows| The highest buying rate for the US dollar, gained 6 cents to $117.55, but there were no changes to the lowest buying and the highest selling rates that remained at $96.15 and $123.21, respectively. The lowest selling rate 
gave up the $1.90 it gained the on the previous day, to end at $96.15. The highest buying rate for the Canadian dollar rose 90 cents to $90.30. The lowest buying rate rose 29 cents to $71.09, the highest selling rate gained just 10 cents to $93 and the lowest selling rate rose $1.40 to $86.90. The highest buying rate for the British Pound, fell 60 cents to $183.20, the lowest buying rate was unchanged at $146.25, the highest selling rate put on 86 cents to $189.39 and the lowest selling rate jumped $1.30 to $177.50.
J$ slips against all on Tuesday
Purchases by dealers of foreign currencies on Tuesday, resulted in the Jamaican currency losing value against three main currencies it regularly trades against. The rate of the local currency has been relatively stable over the past two weeks versus the United States dollar. The market closed with dealers buying the equivalent of US$38,264,784 in contrast to US$60,881,491 on Monday, while they sold the equivalent of US$50,151,893, previously US$47,409,801.
In US dollar trading , dealers bought US$34,542,850 compared to US$55,326,993 on Monday. The buying rate for the US dollar rose 3 cents to $116.86 and US$47,644,632 was sold versus US$45,378,025 on Monday, the selling rate increased 3 cents to $117.39. The Canadian dollar buying rate rose 42 cents to $87.53 with dealers buying C$1,594,307 and selling C$1,271,027, at an average rate 
that rose 67 cents to $89.75. The rate for buying the British Pound fell 4 cents to $179.41 for the purchase of £1,521,362, while £761,295 was sold, at an average rate that climbed 55 cents to $182.01. At the end of trading, it took J$128.86 to purchase the Euro, with a rise of 47 cents on Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$126.36 for a rise of 67 cents on Monday’s rate. Other currencies bought, amounted to the equivalent of US$192,135, while the equivalent of US$355,091 was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 11 cents to $117.49, but there were no changes to the lowest buying and the highest selling rates that remained at $96.15 and $123.21, respectively. The lowest selling rate 
rose $1.90 to end at $98.05. The highest buying rate for the Canadian dollar fell 50 cents to $89.40. The lowest buying rate rose 17 cents to $70.80, the highest selling rate gained $1.64 to $92.90 and the lowest selling rate rose 30 cents to $85.50. The highest buying rate for the British Pound, increased $1.10 to $183.80, the lowest buying rate rose 5 cents to $146.25, the highest selling rate put on 5 cents to $188.53 and the lowest selling rate jumped $26.47 to $176.20.
J$ makes gains on Monday
Purchases by dealers of foreign currencies on Monday, resulted in the Jamaican currency was stable versus the US and gained against the British Pound but slipped versus the Canadian. The market closed with dealers buying the equivalent of US$60,881,491 in contrast to US$34,870,069 on Friday, while they sold the equivalent of US$47,409,801, previously US$29,135,013.
In US dollar trading , dealers bought US$55,326,993 compared to US$31,870,265 on Friday. The buying rate for the US dollar rose 19 cents to $116.83 and US$45,378,025 was sold versus US$27,464,923 on Friday, the selling rate remained at $117.36. The Canadian dollar buying rate declined 38 cents to $87.11 with dealers buying C$2,036,937 and selling C$1,012,104, at an average rate that 
rose 18 cents to $89.08. The rate for buying the British Pound rose 14 cents to $179.45 for the purchase of £2,314,933, while £574,033 was sold, at an average rate that fell 72 cents to $181.46. At the end of trading, it took J$128.39 to purchase the Euro, with a rise of 83 cents on Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$125.68 for a rise of 95 cents on Friday’s rate. Other currencies bought, amounted to the equivalent of US$479,894, while the equivalent of US$375,955 was sold.
Highs & Lows| There were no changes to the highest and lowest trading 
rates for the US dollar, on Monday, with the rates remaining at $117.60, $96.15, $123.21 and $96.15 respectively. The highest buying rate for the Canadian dollar rose 45 cents to $89.90. The lowest buying rate remained a $70.63, the highest selling rate fell $2.24 to $91.26 and the lowest selling rate declined 80 cents to $85.20. The highest buying rate for the British Pound, declined $1.40 to $182.70, the lowest buying rate declined $1.29 to $146.20, the highest selling rate dropped $1.66 to $188.48 and the lowest selling rate dropped $27.72 to $149.73.
J$ makes gains on Friday
Purchases by dealers of foreign currencies on Friday, resulted in the Jamaican currency gaining value against the British Pound, the Canadian and the US. The market closed with dealers buying the equivalent of US$34,870,069 in contrast to US$33,887,651 on Wednesday, while they sold the equivalent of US$29,135,013, previously US$$39,804,866. The market was closed on Thursday, the country’s independence day.
In US dollar trading , dealers bought US$31,870,265 compared to US$31,012,046 on Wednesday. The buying rate for the US dollar rose 11 cents to $116.64 and US$27,464,923 was sold versus US$38,461,884 on Wednesday, the selling rate fell 2 cents to $117.36. The Canadian dollar buying rate declined 70 
cents to $86.73 with dealers buying C$1,062,270 and selling C$651,724, at an average rate that fell 44 cents to $88.90. The rate for buying the British Pound dropped $1.23 to $179.31 for the purchase of £1,246,745, while £641,270 was sold, at an average rate that fell 50 cents to $182.18. At the end of trading, it took J$127.56 to purchase the Euro, with a fall of $1.11 from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$124.73 for a fall of $1.42 from Wednesday’s rate. Other currencies bought, amounted to the equivalent of US$293,253, while the equivalent of US$180,980 was sold.
Highs & Lows| The highest buying rate for the US dollar, gained 5 cents to $117.60, the lowest buying, the highest and the lowest selling rates 
remained at $96.15, $123.21, and $96.15 respectively. The highest buying rate for the Canadian dollar dropped $7.65 to $89.45. The lowest buying rate eased 34 cents to $70.63, the highest selling rate fell $2.30 to $93.50 and the lowest selling rate declined 50 cents to $86. The highest buying rate for the British Pound, rose 70 cents to $184.10, the lowest buying rate inched up 16 cents to $147.49, the highest selling rate rose 22 cents to $190.14 and the lowest selling rate dropped $1.55 cents to $177.45.
J$ loses vs Canadian & Pound
Purchases by dealers of foreign currencies on Wednesday, resulted in the Jamaican currency gaining value against the British Pound and the Canadian but gaining just a bit versus the US. The market closed with dealers buying the equivalent of US$33,887,651 in contrast to US$$45,577,861 on Tuesday, while they sold the equivalent of US$39,804,866, previously US$$43,494,861.
In US dollar trading , dealers bought US$31,012,046 compared to US$42,683,998 on Tuesday. The buying rate for the US dollar fell 32 cents to $116.53 and US$38,461,884 was sold versus US$41,973,163 on Tuesday, the selling rate fell 1 cent to $117.38. The Canadian dollar buying rate rose 43 
cents to $87.43 with dealers buying C$1,097,359 and selling C$691,037, at an average rate that rose 21 cents to $89.34. The rate for buying the British Pound climbed 30 cents to $180.54 for the purchase of £1,256,958, while £433,080 was sold, at an average rate that climbed 34 cents to $182.69. At the end of trading, it took J$128.66 to purchase the Euro, with a fall of 11 cents from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$126.15 for an increase of 19 cents on Tuesday’s rate. Other currencies bought, amounted to the equivalent of US$104,933, while the equivalent of US$143,047 was sold.
Highs & Lows| The highest buying rate for the US 
dollar, gained 5 cents to $117.55, the lowest buying and the highest rates remained at $96.15 and $123.21, respectively and the lowest selling rate fell $2.28 to $96.15. The highest buying rate for the Canadian dollar jumped $7.80 to $97.10. The lowest buying rate rose 5 cents to $70.97, the highest selling rate rose $2.60 to $95.80 and the lowest selling rate climbed $1.05 to $86.50. The highest buying rate for the British Pound, rose 20 cents to $183.40, the lowest buying rate remained at $147.33 the highest selling rate fell 54 to $189.92 and the lowest selling rate rose $1.50 cents to $179.
J$ gains on Canadian & Pound Tuesday
Purchases by dealers of foreign currencies on Tuesday, resulted in the Jamaican currency gaining value against the British Pound and the Canadian but slips a bit versus the US. The market closed with dealers buying the equivalent of US$45,577,861 in contrast to US$30,317,785 on Monday, while they sold the equivalent of US$43,494,861, previously US$30,785,180.
In US dollar trading , dealers bought US$42,683,998 compared to US$27,517,864 on Monday. The buying rate for the US dollar rose 31 cents to $116.85 and US$41,973,163 was sold versus US$29,516,249 on Monday, the selling rate rose 3 cents to $117.39. The Canadian dollar buying rate dropped 5 cents to $87 with dealers buying C$1,108,307 and selling C$846,984, at an average rate that fell 46 cents to $89.13. The rate for buying the British Pound climbed 60 
cents to $180.24 for the purchase of £1,271,013, while £487,786 was sold, at an average rate that slipped 14 cents to $182.35. At the end of trading, it took J$128.77 to purchase the Euro, with a fall of 96 cents from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$125.96 for a decline of $1.10 from Monday. Other currencies bought, amounted to the equivalent of US$108,150, while the equivalent of US$120,865 was sold.
Highs & Lows| The highest buying rate for the US dollar, declined 5 cents to $117.50, the lowest buying and the highest rates remained at $96.15 and $123.21 respectively and the lowest selling rate climbed $2.28 to 
$98.43. The highest buying rate for the Canadian dollar dropped $1.70 to $89.30. The lowest buying rate fell $1.29 to $70.92, the highest selling rate declined $3.30 to $93.20 and the lowest selling rate lost $1.55 to $85.45. The highest buying rate for the British Pound, and the highest selling rate remained at $183.20 and $190.46, respectively. The lowest buying rate fell 41 cents to $147.33 and the lowest selling rate declined 50 cents to $177.50.
J$ gained value on Monday
Purchases by dealers of foreign currencies on Monday, resulted in the Jamaican currency gaining value against the three main traded currencies. The market closed with dealers buying the equivalent of US$30,317,785 in contrast to US$35,830,362 on Friday, while they sold the equivalent of US$30,785,180, previously US$29,735,446.
In US dollar trading , dealers bought US$27,517,864 compared to US$30,913,429 on Friday. The buying rate for the US dollar fell 21 cents to $116.54 and US$29,516,249 was sold versus US$27,672,147 on Friday, the selling rate fell 6 cents to $117.36. The Canadian dollar buying rate dropped $1 to $87.05 with dealers buying C$1,352,247 and selling C$581,188, at an average rate that fell 
79 cents to $89.59. The rate for buying the British Pound dropped $1.07 to $179.64 for the purchase of £1,085,262, while £403,305 was sold, at an average rate that slipped 56 cents to $182.49. At the end of trading, it took J$129.73 to purchase the Euro, with an increase of $1.50 from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.06 for a rise of $1.34 from Friday. Other currencies bought, amounted to the equivalent of US$117,139, while the equivalent of US$198,106 was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 5 cents to $117.55, the lowest buying, the highest and lowest 
selling rates remained at $96.15, $123.21 and $96.15 respectively. The highest buying rate for the Canadian dollar jumped $1 to $91. The lowest buying rate rose 62 cents to $72.21, the highest selling rate leapt $3.50 to $96.50 and the lowest selling rate remained at $87. The highest buying rate for the British Pound, eased 10 cents to $183.20, the lowest buying rate rose 33 cents to $147.74, with the highest selling rate rising 43 cents to $190.46 and the lowest selling rate falling $1.70 to $178.
J$ lost value on Friday
Purchases by dealers of foreign currencies on Friday, resulted in the local currency losing value against the three main traded currencies. The market closed with dealers buying the equivalent of US$35,830,362 in contrast to US$31,985,057 on Thursday, while they sold the equivalent of US$29,735,446, previously US$33,915,183.
In US dollar trading , dealers bought US$30,913,429 compared to US$29,087,315 on Thursday. The buying rate for the US dollar fell 9 cents to $116.75 and US$27,672,147 was sold versus US$31,986,716 on Thursday, the selling 
rate rose 4 cents to $117.42. The Canadian dollar buying rate dropped 20 cents to $88.05 with dealers buying C$971,179 and selling C$828,924, at an average rate that increased 30 cents to $90.38. The rate for buying the British Pound rose 1 cent to $180.71 for the purchase of £2,606,061, while £859,643 was sold, at an average rate that was up 55 cents to $182.05. At the end of trading, it took J$128.23 to purchase the Euro, with a loss of $1.25 from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$125.72 for a decline of $1.20 from Thursday. Other currencies bought, amounted to the equivalent of US$150,763, while the equivalent of US$85,227 was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 5 cents to $117.50, the lowest buying, the highest and lowest 
selling rates remained at $96.15, $123.21 and $96.15 respectively. The highest buying rate for the Canadian dollar fell 60 cents to $90. The lowest buying rate declined 83 cents to $71.59, the highest selling rate dropped 36 cents to $93 and the lowest selling rate rose 30 cents to $87. The highest buying rate for the British Pound, eased 30 cents to $183.30, the lowest buying rate fell 54 cents to $147.41, with the highest selling rate rising $2.87 to $190.03 and the lowest selling rate climbed $1.45 to $179.70.
J$ stable vs. US on Thursday
Purchases by dealers of foreign currencies on Thursday, resulted in the local currency making gains against the Pound and Canadian dollar but slipping slightly versus the US dollar. The market closed with dealers buying the equivalent of US$31,985,057 in contrast to US$45,948,406 on Wednesday, while they sold the equivalent of US$33,915,183, previously US$41,243,978.
In US dollar trading , dealers bought US$29,087,315 compared to US$39,742,034 on Wednesday. The buying rate for the US dollar rose 4 cents to $116.84 and US$31,986,716 was sold versus US$40,033,973 on Wednesday, the selling rate rose 1 cent to $117.38. The Canadian dollar buying rate dropped 46 cents to $88.25 with dealers buying C$1,151,016 and selling C$612,528, at an average rate 
that fell 21 cents to $90.08. The rate for buying the British Pound rose 2 cents to $180.70 for the purchase of £1,211,722, while £683,434 was sold, at an average rate that fell 7 cents to $182.50. At the end of trading, it took J$129.48 to purchase the Euro, with a loss of 7 cents from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$126.92 for a rise of 3 cents from Wednesday. Other currencies bought, amounted to the equivalent of US$154,239, while the equivalent of US$395,748 was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 5 cents to $117.55, the lowest buying and the highest selling rates 
remained at $96.15 and $123.21 respectively, the lowest selling rate dropped $18.80 to $96.15. The highest buying rate for the Canadian dollar fell 40 cents to $90.60. The lowest buying rate rose 62 cents to $72.42, the highest selling rate dropped $1.64 to $93.36 and the lowest selling rate declined 50 cents to $86.70. The highest buying rate for the British Pound, eased 90 cents to $183.60, the lowest buying rate climbed 79 cents to $147.95, with the highest selling rate falling $2.55 to $187.16 and the lowest selling rate slipped 25 cents to $178.25.