More gains for Jamaican$ – Monday

The value of the Jamaican dollar climbed against the US dollar at the start of the week, versus the close on Friday, with the selling rate for the US dollar falling to J$128.22 from J$128.39 previously.

Dealers bought the US currency at an average of J$127.28, up from JS$127.27 on Friday.
Inflows into the Jamaican foreign exchange market declined on Monday compared to the same day last week, but selling by dealers dropped compared last week, more than compensating for the week over week fall in inflows.
Dealers purchased US$46 million compared to US$37 million bought on Friday and sold US$30.4 million, of all currencies compared to US$26 million sold on Friday. In USA dollar trading, inflows into the system ended at US$39 million versus US$33 million on Friday, while selling amounted to US$25.8 million versus US$22 million previously.
The selling rate for the Canadian dollar rose to J$101.55 from J$101.44 at the close on Friday, while the British Pound was less costly at the close on Friday, with J$165.89 buying the British currency versus J$166.41 on Friday and the euro, rose in value against the Jamaican dollar, with it taking J$148.91 to buy the European common currency on Friday, versus Friday’s J$145.65.

FX inflows rise demand falls

Inflows into the Jamaican foreign exchange market rose during the past week, compared to the first week in July and selling by dealers dropped. Dealers purchased US$220 million of all currencies, US$6 million more than in the previous week and sold US$165 million, down $15 million for the same period.
The Jamaican dollar rose in value against the US dollar at the end of the week versus the close of the previous week, with the selling rate declining moderately to J$128.39 from J$128.43, the rate fell to a low of J$128.30 for the week on Wednesday.
Dealers bought the US currency at an average of J$127.27 on Friday, down from JS$127.55 on Thursday and $127.41 at the close of the previous week.
Dealers purchased US$37 million similar to the amount bought on Thursday and sold US$26 million, of all currencies on Friday compared to US$29 million sold. In USA dollar trading, inflows into the system ended at US$33 million versus US$35 million on Thursday, while selling amounted to just US$22 million versus US$28 million previously. For the week, net inflows of US$50 million USA dollar entered the system up from US$30 million in the first week of the month.
Inflows for July are running ahead of those for June, while outflows are less resulting a higher net inflows for the two weeks to July 14.
The selling rate for the Canadian dollar rose to J$101.44 from J$101.12 at the close on Thursday, while the British Pound was less costly at the close on Friday, with J$166.41 buying the British currency versus J$166.91 on Thursday and the euro, fell in value against the Jamaican dollar, with it taking J$145.65 to buy the European common currency on Friday, versus Thursday’s J$147.14.

Net FX inflows rise J$ value falls – Thursday

The Jamaican dollar gave back 9 cents of its value as measured by the average selling rate for the United States dollar on Thursday as net inflows into the Jamaican foreign exchange market declined on Thursday from the net position on Wednesday.
At the close, the United States currency was being sold at an average of J$128.38, co0mpared to J$128.30 on Wednesday. Dealers bought the US currency at an average of J$127.55, up slightly from JS$127.53 previously. Dealers bought the equivalent of US$8 million more funds than they sold, up from US$15 million on the prior trading day, bringing the surplus for the week to US$44.5 million.
Dealers purchased US$37 million and sold US$29 million, of all currencies on Thursday. On Wednesday, US$47.87 million entered the market and US$32.54 million was sold to the public.
In USA dollar trading, inflows into the system ended at US$35 million versus US$41.3 million previously, while selling amounted to US$28 million versus US$27.9 million on Wednesday.
The selling rate for the Canadian dollar rose to J$101.12 from J$100.04 at the close on Wednesday, while the British Pound was more costly at the close on Thursday, with J$166.91 buying the British currency versus J$164.23 on Wednesday and the Jamaican dollar fell in value against the euro, with it taking J$147.14 to buy the European common currency on Thursday, versus Wednesday’s rate of J$146.28.

Jamaican$ gains as net inflows rise – Wednesday

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A net increased inflows of foreign currency entered the Jamaican foreign exchange market on Wednesday, leading to the value of the Jamaican dollar gaining 9 cents against the United States dollar. At the close, the United States currency was being sold at an average of J$128.30, down from J$128.39 on Tuesday.
In Wednesday’s trading on foreign currency market dealers bought the US currency at an average of J$127.53, up slightly from JS$127.52 previously. Dealers bought the equivalent of US$15 million more funds than they sold, up from US$8 million on the prior trading day bring the surplus for the week to US$37 million.
Dealers purchased US$47.87 million and sold US$32.54 million, of all currencies on Wednesday. On Tuesday, US$47.77 million entered the market and US$39.4 million was sold to the public.
In USA dollar trading, inflows into the system ended at US$41.3 million versus US$42.4 million on Tuesday, while selling amounted to US$27.9 million versus US$33.2 million on Tuesday.
The selling rate for the Canadian dollar rose to J$100.04 from J$99.73 at the close on Tuesday, while the British Pound cost less at the close on Wednesday, with J$164.23 buying the British currency versus J$165.86 on Tuesday and the Jamaican dollar jumped in value against the euro, with it taking J$146.28 to buy the European common currency on Wednesday versus Tuesday’s rate of J$149.03.

 

Jamaican dollar value slips – Tuesday

The value of the Jamaican dollar slipped by 2 cents against the United States dollar rising to J$128.39 from J$128.37 on Monday. Dealers bought the US currency at J$127.52 up from JS$127.49 previously.
On Tuesday’s trading in Jamaica’s foreign currency market saw the equivalent of US$8 million more funds coming into the system than left, down from US$13 million on the prior trading day bring the surplus for the week to US$21.4.
Dealers purchased US$47.8 million and sold US$39.4 million, of all currencies on Tuesday. On Monday, US$50.44 million entered the market and US$37.4 million was sold to the public.
In USA dollar trading, inflows into the system ended at US$42.4 million versus US$46.3 million on Monday while selling amounted to US$33.2 million versus US$34.8 million on Monday.
The selling rate for the Canadian dollar fell to J$99.73 from J$99.98 at the close on Monday, while the British Pound cost more at the close on Tuesday, with J$165.86 buying the British currency versus J$163.85 on Monday and the Jamaican dollar fell in value against the euro, with it taking J$149.03 to buy the European common currency on Tuesday versus Monday’s rate of J$146.69.

More gains for Jamaican dollar – Monday

Dealers in Jamaica’s foreign currency market saw the equivalent of US$13 million more funds coming into the system than left, helping to drive the value of Jamaican dollar further upwards with the selling rates of the United States dollar dropping to J$128.37, down from J$128.43 on Friday.
Dealers bought the United States dollar at J$127.49 up from JS$127.41 previously.
The positive net inflows on Monday continue the trend set for the prior week with surplus inflows on each day.
Dealers purchased US$50.44 million and sold US$37.4 million, of all currencies on Monday. On Friday, inflows into the market generated US$36.2 million in all currencies, while US$30.2 million was sold to the public.
In USA dollar trading, inflows into the system ended at US$46.3 million versus US$32.3 million on Friday while selling amounted to US$34.8 million versus US$27 million on Friday.
The selling rate for the Canadian dollar rose to J$99.98 compared to J$99.79 at the close on Friday, while the British Pound cost less at the close on Monday, with J$163.85 buying the British currency versus J$165.19 on Friday and the Jamaican dollar gained value against the euro, with it taking J$146.69 to buy the European common currency on Monday versus Friday’s rate of J$148.09.

 

J$ resumes revaluation – Friday

After slipping modestly against the US dollar on Thursday the Jamaican dollar resumes its more than one month revaluation again on Friday, as inflows of foreign exchange continues to exceed outflows at an increasing rate.
Dealers sold the US dollar for an average that was 2 cents lower than on Thursday, to close at $$128.43 as US$36.2 million entered the market and US$30.2 million left, of all currencies on Friday. On Thursday, inflows into the market generated US$44.3 million in all currencies, while US$38.9 million was sold to the public.
In USA dollar trading, inflows into the system ended at US$32.3 million versus US$30.9 million on Thursday while selling amounted to US$27 million compared to US$25.4 million on Thursday.
The week to Friday, netted US dollar equivalent of US$34.3 million while the in United States currency, the surplus ended at US$29.8 million. For the first full week in July, total inflows amounted to $214 million compared to US$192 million in June while outflows in July ended at US$180 versus US$170 million in June. Flows for the US dollar in July, ended with US$177.55 million flowing into the system and $147.7 million flowing out, compared to US$172.14 million and US$158.43 million respectively in June.
At the close, the Jamaican dollar value rose, with the selling rate of J$128.43 for one US dollar, down from J$128.45 it ended at on Thursday. Dealers bought the United States dollar at J$127.41 down from JS$127.49 previously.
The selling rate for the Canadian dollar climbed to J$99.79 compared to J$99.63 at the close on Thursday, while the British Pound cost less at the close on Friday with J$165.19 buying the British currency versus J$166.06 on Thursday and the Jamaican dollar gained value against the euro, with it taking J$148.09 to buy the European common currency on Friday versus Thursday’s rate of J$150.78.

 

J$ lose in FX trading – Thursday

Inflows of foreign exchange for the week to Thursday netted US dollar equivalent of $28 million while in United States currency, the surplus is US$24.5 million. Dealers bought the US dollar from a high of J$127.81 to a low of J$127.02, the average selling rate only moved between J$128.50 to $128.44 for the week so far.
On Thursday, dealers sold the US dollar for an average which was 1 cent higher than on Wednesday, to close at $$128.45, only the second day the rate moved up, in more than a month. On Thursday, US$44.3 million entered the market with US$38.9 million leaving, of all currencies. On Wednesday, inflows into the market generated just US$58.7 million in all currencies, while US$42.25 million was sold to the public.
At the close, the Jamaican dollar value slipped, with the selling rate of J$128.45 for one US dollar, down from J$128.44 it ended at on Wednesday. Dealers bought the United States dollar at J$127.49 down from JS$127.81 previously.
In USA dollar trading, inflows into the system ended at US$30.9 million versus US$46.87 million on Wednesday while selling amounted to only US$25.4 million compared to US$34.3 million on Wednesday.
The selling rate for the Canadian dollar climbed to J$99.63 compared to J$99.37 at the close on Wednesday, while the British Pound cost more at the close on Thursday with J$166.06 buying the British currency versus J$165.94 on Wednesday and the Jamaican dollar lost value against the euro, with it taking J$150.78 to buy the European common currency on Thursday versus Wednesday’s rate of J$147.8.

Big increase in FX trading – Wednesday

Trading levels, picked up sharply from the low levels on Tuesday, with US$58.7 million entering the market and US$42.25 million leaving. On Tuesday, inflows into the market generated just US$23.84 million in all currencies while US$22.52 million was sold to the public.
At the close of the market on Wednesday, the Jamaican dollar recorded moderate gains, with the selling rate of J$128.44 for one US dollar, down from J$128.46 it ended at on Tuesday. Dealers bought the United States dollar at J$127.81 up from JS$127.02.
In USA dollar trading, inflows into the system ended at US$46.87 million versus US$21.54 million on Tuesday while selling amounted to only US$34.3 million compared to US$20.36 million on Tuesday.
The selling rate for the Canadian dollar inched up to J$99.37 compared to J$98.01 at the close on Tuesday, while the British Pound cost less at the close on Wednesday with J$165.94 buying the British currency versus J$166.91 on Tuesday and the Jamaican dollar lost value against the euro, with it taking J$147.8 to buy the European common currency on Wednesday versus Tuesday’s rate of J$145.42.

 

BOJ sells US$80m up to J$129.91


Bank of Jamaica has USD80 million through its new Foreign Exchange auction system between May 4th to 9th to Authorised and Cambios Dealers.
The central Bank sates that after inviting bids for USD on Tuesday, the Bank through its Trading Room sold US$30 million to Authorised Dealers and Cambios at a rate of J$129.91 to US$1. On Thursday, May 4th and Friday, May 5th, the Bank sold US$50 million to Authorised Dealers and Cambios via its trading room. On May 4, US$30 million was sold at $129.85 and on the 5th US$20 million was sold at the same rate.