Purchases by dealers of foreign currencies on Wednesday, resulted in the local currency making gains against the US dollar and Canadian dollar but slipping versus the Pound. The market closed with dealers buying the equivalent of US$45,948,406 in contrast to US$29,303,005 on Tuesday, while they sold the equivalent of US$41,243,978, previously US$35,523,262.
In US dollar trading , dealers bought US$39,742,034 compared to US$26,034,284 on Tuesday. The buying rate for the US dollar rose 8 cents to $116.80 and US$40,033,973 was sold versus US$33,110,856 on Tuesday, the selling rate declined 1 cent to $117.37. The Canadian dollar buying rate jumped 57 cents to $88.71 with dealers buying C$1,313,542 and selling C$522,559, at an average rate 
that fell 19 cents to $90.29. The rate for buying the British Pound rose 62 cents to $180.68 for the purchase of £2,382,309, while £434,139 was sold, at an average rate that climbed 81 cents to $182.57. At the end of trading, it took J$129.56 to purchase the Euro, with a gain 83 cents on Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$126.89 for a rise of 78 cents from Monday. Other currencies bought, amounted to the equivalent of US$1,523,669, while the equivalent of US$132,715 was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 2 cents to $117.50, the lowest buying and the highest selling rates 
remained at $96.15 and $123.21 respectively, the lowest selling rate fell 5 cents to $114.95. The highest buying rate for the Canadian dollar fell $1 to $91. The lowest buying rate rose 25 cents to $71.80, the highest selling rate jumped $2 to $95 and the lowest selling rate rose 70 cents to $87.20. The highest buying rate for the British Pound, rose $1.30 to $184.50, the lowest buying rate climbed 25 cents to $147.16, with the highest selling rate rising $3.18 to $189.71 and the lowest selling rate rose $1.50 to $178.50.
J$ make gains on Wednesday
J$ loses against all on Tuesday
Purchases by dealers of foreign currencies on Tuesday, resulted in the local currency making gains against the US dollar, the Pound and Canadian dollar. The market closed with dealers buying the equivalent of US$29,303,005 in contrast to US$41,158,446 on Monday, while they sold the equivalent of US$35,523,262, previously US$39,225,307.
In US dollar trading , dealers bought US$26,034,284 compared to US$37,809,382 on Monday. The buying rate for the US dollar rose 1 cent to $116.72 and US$33,110,856 was sold versus US$37,741,387 on Monday, the selling rate gained 3 cents to $117.38. The Canadian dollar buying rate jumped 77 cents to $88.14 with dealers buying C$1,355,579 and selling C$1,360,560, at an average rate that moved up 61 cents to $90.48. The rate for buying the British Pound rose 70 cents to $180.06 for the purchase of £1,331,587, while £748,628 was sold, at an average rate that climbed 21 cents to $181.76. There were no new rates quoted by Bank of Jamaica, for the Euro, Other currencies bought, amounted to the equivalent of US$190,720, while the equivalent of US$204,450 was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 5 cents to $117.52, the lowest buying rate climbed $9.35, to $96.15, the highest selling rates was unchanged at $123.21 and lowest selling rate jumped $18.85 to $115. The highest buying rate for the Canadian dollar rose $1.05 to $92. The lowest buying rate rose 17 cents to $71.55, the highest selling rate dropped $3.50 to $93 and lowest selling rate rose 75 cents to $86.50. The highest buying rate for the British Pound, dropped $2.54 to $183.20, the lowest buying rate climbed 66 cents to $146.91, with the highest selling rate falling $2.65 to $186.53 and the lowest selling rate rose 80 cents to $177.
J$ makes gains on Monday
Purchases by dealers of foreign currencies on Monday, resulted in the local currency making gains against the US and the Pound but slipped against the Canadian dollar. The market closed with dealers buying the equivalent of US$41,158,446 in contrast to US$31,035,222 on Friday, while they sold the equivalent of US$39,225,307, previously US$29,331,577.
In US dollar trading , dealers bought US$37,809,382 compared to US$28,539,977 on Friday. The buying rate for the US dollar fell 5 cents to $116.71 and US$37,741,387 was sold versus US$27,597,716 on Friday, the selling rate fell 4 cents to $117.35. The Canadian dollar buying rate declined 30 cents to $87.37 with dealers buying C$1,262,916 and selling C$666,113, at an average rate that inched up 9 cents to $89.87. The rate for buying the British Pound declined 14 cents to $179.36 for the purchase of £1,441,789, while £476,425 was sold, at an average rate that fell 37 cents to $181.55. At the end of trading, it took J$128.72 to purchase the Euro, with a loss of 18 cents on Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$126.11 for a fall of 43 cents from Friday. Other currencies bought, amounted to the equivalent of US$187,874, while the equivalent of US$236,733 was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 13 cents to $117.47, the lowest buying rate dropped $9.35, to $86.80, the highest and lowest selling rates were unchanged at $123.21 and $96.15 respectively. The highest buying rate for the Canadian dollar dropped $2.66 to $90.95. The lowest buying rate declined 95 cents to $71.38, the highest selling rate gained $3.25 cents to $96.50 and lowest selling rate dropped $1.40 to $85.75. The highest buying rate for the British Pound, jumped $3.24 to $185.74, the lowest buying rate declined 49 cents to $146.25, with the highest selling rate remaining un at $189.18 and the lowest selling rate fell $1.80 to $176.20.
Does FX flows justify J$ slippage?
The Jamaican dollar has been slipping against the US dollar coinciding with the demands at the summer holidays for Jamaicans travelling overseas and yet the total inflows of currencies over the last two weeks saw US$18,226,074 more being bought than sold. the decision of the country’s central bank to hike their compulsory take from the dealers to 25 percent from 15 percent last year would have had a negative impact on the rate of exchange between the US dollar versus the Jamaican dollar.
On Friday June 26, dealers bought the equivalent of US$109,789,460 or US$23,322,004 more than the amount sold and they ended up with net purchase of US dollar currency alone amounting to US$21 million. For the week commencing Monday June 22 to Thursday 25th dealers sold US$4.7 million 
in United States currency more than they purchased.
Dealer bought a net of $6.4 million dollars in British Pound and the Canadian dollars for the week from June 22 to the 26th and for the week ending July 3, a net of US$9.2 million was taken in in British Pound and Canadian dollars, for a total net purchase of non US dollar to nearly US$16 million equivalent. A net of US$12.57 million was paid out in US dollar trades for the July 3 week, thus reducing the surplus from the previous week to just US$8.6 million.
The country is in a period of good inflows of foreign exchange but there may be less US dollar inflows than in earlier in the year. The better flows should end in August or early September.
J$ losses mounts at 117.07 to US$1
Friday’s trading in foreign currencies in Jamaican closed with dealers buying the equivalent of only US$25,196,045 in contrast to US$32,635,866 on Thursday, while they sold the equivalent of US$23,105,190 versus US$34,836,179 previously as trading activity was low, ahead of the week end.
In US dollar trading, dealers bought US$20,644,351 compared to US$30,637,319 on Thursday. The buying rate for the US dollar fell 20 cents to $116.29 and US$20,389,352 was sold versus US$32,858,411 on Thursday, the selling rate rose 4 cents to $117.07. The Canadian dollar buying rate jumped $1.86 to $92.26 with dealers buying C$3,982,260 and selling C$2,624,801, at an average rate that rose 7 cents to $92.94. 
The rate for buying the British Pound gained 31 cents to $179.89 for the purchase of £848,685, while £359,179 was sold, at an average rate that declined $1.04 to $182.60. At the end of trading, it took J$129.96 to purchase the Euro, 6 cents more than on Thursday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.42 for 12 cents greater than Thursday’s rate. Other currencies bought, amounted to the equivalent of US$79,557, while the equivalent of US$71,867 was sold.
Highs & Lows| The price changes for the highs and lows that the Jamaican dollar traded at, were mixed on Friday, with 5 increases and 5 declines. The highest buying rate for the US dollar fell 5 cents to $117.30. The lowest buying and the highest selling rates were unchanged at $95.82 and $122.78 respectively, while the lowest selling rate dropped $24.80 to $89.90.
The highest buying rate for the Canadian dollar rose 10 cents to $93.10, the lowest buying rate lost 37 cents at $73.62. The highest selling rate moved up 60 cents to $97 and the lowest selling rate climbed 95 cents to $90.10. The highest buying rate for the British Pound, rose $1 to $185 and the lowest buying rate declined 79 cents to $146.33, with the highest selling rate falling 74 cents to $186.64 and the lowest selling rate rising 55 cents to $177.80.
J$ stays above 117 to US$1 on Thursday
Michael Manley the man who started the Jamaican dollar slide in the 1970s.
In US dollar trading, dealers bought US$30,637,319 compared to US$36,094,493 on Wednesday. The buying rate for the US dollar rose 8 cents to $116.49 and US$32,858,411 was sold versus US$36,465,228 on Wednesday, the selling rate rose 2 cents to $117.03.
The Canadian dollar buying rate declined $1.09 to $90.40 with dealers buying C$684,621 and selling C$654,945, at an average rate that fell $1.17 to $92.87. The rate for buying the British Pound fell 73 cents to $179.58 for the purchase of £882,554, while £398,803 was sold, at an average rate that declined 15 cents to $183.64. At the end of trading, it took J$129.90 to purchase the Euro, 44 cents less than on Wednesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.30 for 39 cents less than Wednesday’s rate. Other currencies bought, amounted to the equivalent of US$106,727, while the equivalent of US$832,251 was sold.Highs & Lows| The majority of price changes for the highs and lows that the Jamaican dollar traded at, were mostly down on Thursday, with only two cases of increases with the highest buying rate for the US dollar rising 10 cents to $117.35.
The lowest buying and the highest selling rates were unchanged at $95.82 and $122.78 respectively, while the lowest selling rate fell 25 cents to $114.70. The highest buying rate for the Canadian dollar dropped $1 to $93, the lowest buying rate lost 71 cents at $73.99. The highest selling rate inched down 60 cents to $96.40 and the lowest selling rate lost 35 cents to $89.15. The highest buying rate for the British Pound, rose 10 cents to $184 and the lowest buying rate declined 70 cents to $147.12, with the highest selling rate falling $3.61 to $187.38 and the lowest selling rate falling 75 cents to $177.25.
Political Mismanagement kills J$
Poor Jamaican dollar. killed by political mismanagement
Unfortunately, if this was the end of devaluation for the local currency, it may be considered not too bad but things look as if there is more decline coming with the country’s central bank is ensuring that the target they secretly hold is met, with a hike in the compulsory take from authorized dealers moving up sharply last year to 25 percent of each day’s inflows. Interestingly, while the currency has slipped since the last quarter of 2014, inflation at the same time has been virtually zero, thus giving the currency a real increase in competiveness.
Trading in foreign currencies in Jamaican closed with dealers buying the equivalent of US$38,333,260 in contrast to US$34,883,289 on Tuesday, while they sold the equivalent of US$37,824,842 versus US$38,197,799 previously and pushed the average selling rate for the US dollar over J$117 for the first time.
In US dollar trading, dealers bought US$36,094,493 compared to US$27,766,608 on Tuesday. The buying rate for the US dollar rose 6 cents to $116.41 and US$36,465,228 was sold versus US$35,932,831 on Tuesday, the selling rate rose 3 cents to $117.01. The Canadian dollar buying rate declined $1.07
to $91.49 with dealers buying C$1,004,694 and selling C$649,575, at an average rate that rose 20 cents to $94.04. The rate for buying the British Pound fell $1.93 to $180.32 for the purchase of £877,924, while £437,821 was sold, at an average rate that rose 1 cent to $183.79. At the end of trading, it took J$130.34 to purchase the Euro, 11 cents less than on Tuesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.69 for 3 cents less than Tuesday’s rate. Other currencies bought, amounted to the equivalent of US$89,263, while the equivalent of US$149,848 was sold.Highs & Lows| The highest buying rate for the US dollar rose 15 cents to $117.25, the lowest buying rate jumped $4.82 to $95.82, the highest selling rates was unchanged at $122.78, while the lowest selling rate jumped $19.34 to $114.95.
The highest buying rate for the Canadian dollar dropped $2.88 to $94, the lowest buying rate lost 33 cents at $74.70. The highest selling rate inched up 27 cents to $97 and the lowest selling rate lost 50 cents to $89.50. The highest buying rate for the British Pound, and the lowest buying rate remained at $183.90 and $147.82,respectively, with the highest selling rate rising $3.61 to $190.99 and the lowest selling rate was up $1.30 to $178.
J$ just 2 cents from $117 to US$1
Tuesday’s trading in foreign currencies in Jamaican closed with dealers buying the equivalent of US$34,883,289 in contrast to US$44,006,677 on Monday, while they sold the equivalent of US$38,197,799 versus US$45,314,596 previously.
In US dollar trading, dealers bought US$27,766,608 compared to US$40,659,188 on Monday. The buying rate for the US dollar rose 6 cents to $116.35 and US$35,932,831 was sold versus US$42,723,695 on Monday, the selling rate fell 1 cent to $116.98. The Canadian dollar buying rate rose 58 cents to $92.56 with dealers buying C$1,573,168 and selling C$889,991, at an average rate that declined 46 cents to $93.84. 
The rate for buying the British Pound increased $1.99 cents to $182.25 for the purchase of £3,643,918, while £869,965 was sold, at an average rate that fell 10 cents to $183.78. At the end of trading, it took J$130.45 to purchase the Euro, 20 cents more than on Monday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.72 for 36 cents less than Monday’s rate. Other currencies bought, amounted to the equivalent of US$157,210, while the equivalent of US$184,358 was sold.
Highs & Lows| The highest buying rate for the US dollar rose 3 cents to $117.10, the lowest buying rate dropped $4.61 to $91, the highest selling rates put on 26 cents $122.78, while the lowest selling rate remained at $95.61. 
The highest buying rate for the Canadian dollar jumped $2.58 to $96.88, the lowest buying rate gained 4 cents at $75.03. The highest selling rate dipped $1.37 to $96.73 and the lowest selling rate lost 35 cent to $90. The highest buying rate for the British Pound, fell 45 cents to $183.90, the lowest buying rate remained at $147.82, with the highest selling rate diving $3.19 to $187.38 and the lowest selling rate fell $1.40 to $176.70.
J$ 1 cent from $117 to US$1 Monday
Monday’s trading in foreign currencies in Jamaican came down from the lofty heights of Friday’s trading as foreign exchange dealers bought the equivalent of US$44,006,677, in contrast to US$109,789,460 on Friday, while they sold the equivalent of US$45,314,596 versus US$86,467,457 previously.
In US dollar trading, dealers bought US$40,659,188 compared to US$104,883,104 on Friday. The buying rate for the US dollar declined 43 cents to $116.29 and US$42,723,695 was sold versus US$83,731,477 on Friday, the selling rate rose 7 cents to $116.99. The Canadian dollar buying rate fell $1.38 to $91.98 with dealers buying C$1,474,785 and selling C$633,071, at an average rate that declined 14 cents to $94.30. 
The rate for buying the British Pound lost $1.58 cents to $180.26 for the purchase of £1,100,105, while £825,122 was sold, at an average rate that climbed 17 cents to $183.88. At the end of trading, it took J$130.26 to purchase the Euro, 57 cents less than on Friday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.08 for 4 cents less than Friday’s rate. Other currencies bought, amounted to the equivalent of US$475,673, while the equivalent of US$783,772 was sold.
Highs & Lows| The highest buying rate for the US dollar dipped 3 cents to $117.07, the lowest buying rate and the highest selling rates remained at $$95.61 and $122.52, respectively while the lowest selling rate dropped $17.69 to $95.61. The highest buying rate for the Canadian dollar moved down 30 cents to $94.30, the lowest buying rate gained 4 cents at $74.99. 
The highest selling rate rose $1.55 to $98.10 and the lowest selling rate lost $1.45 to $90.35. The highest buying rate for the British Pound, fell 65 cents to $184.35, the lowest buying rate put on 8 cents to $147.82, with the highest selling rate rising $2.57 to $190.57 and the lowest selling rate climbed $1.60 to $178.10.
Huge forex trading in Jamaica Friday
NCB buys US$32.9m on Friday
Scotia Bank bought US$18.7 million and sold US$16.8 million while National Commercial Bank bought US$32.85 and sold only US$21.5 million, the next largest trade was Sagicor Bank with US$10.9 million bought to US$8.6 million sold.
In US dollar trading, dealers bought US$104,883,104 compared to US$27,666,499 on Thursday. The buying rate for the US dollar increased 50 cents to $116.72 and US$83,731,477 was sold versus US$26,103,111 on Thursday, the selling rate rose 3 cents to $116.92. The Canadian dollar buying rate rose $1.05 to $93.36 with dealers buying C$2,034,353 and selling C$1,742,563, at an average rate that rose 2 cents to $94.44.
The rate for buying the British Pound gained 48 cents to $181.84 for the purchase of £1,661,063, while £785,759 was sold, at an average rate that climbed 34 cents to $183.71. At the end of trading, it took J$130.83 to purchase the Euro, 20 cents more than on Thursday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.13 for 21cents more than Thursday’s rate. Other currencies bought, amounted to the equivalent of US$691,331, while the equivalent of US$93,900 was sold.Highs & Lows| The highest buying rate for the US dollar dipped 12 cents to $117.10, the lowest buying rate jumped $4.91 to $95.61. The highest selling rate remained at $122.52 and the lowest selling rate jumped $17.69 to $113.30.
The highest buying rate for the Canadian dollar moved down $1.40 to $94.60, the lowest buying rate remained at $74.95. The highest selling rate declined $1.45 to $96.55 and the lowest selling rate rose $1.50 to $91.80. The highest buying rate for the British Pound, rose 85 cents to $185, the lowest buying rate remained at $147.74, with the highest selling rate rising $1.08 to $188 and the lowest selling rate climbed $1.70 to $179.70.