Jamaican$ makes gains on Friday

1000front The Jamaican dollar rose in value in foreign exchange trading on Friday against the United states and Canadian dollars and the pound but slipped versus the euro. Dealers bought the equivalent of US$35,239,711 of all currencies and sold US$31,681,608, compared to US$37,367,097 purchased and US$36,133,436 sold on Thursday.
In US dollar trading, dealers bought US$31,869,568 compared to US$31,042,246 on Thursday. The buying rate for the US dollar rose 8 cents to close at $128.49. A total of US$30,119,910 was sold versus US$30,989,415 on Thursday, with the selling rate falling 3 cents to $129.07. FX trde sum 18-11-16The Canadian dollar buying rate dropped $3.31 to $92.63, with dealers buying C$1,538,306 and selling C$780,325 at an average rate that dived $1.14 to $95.31. The average rate for buying the British Pound dipped 20 cents to $157.13 for the purchase of £1,692,940 while £665,394 was sold with a fall of $1.22 to end at $159.43.
At the end of trading on Friday, dealers sold €80,071 with the selling rate for the Euro, closing with a rise of 20 cents to $137.51, according to data from Bank of Jamaica. Dealers purchased €106,555 of the European common currency at $133.03 after falling $3.25. FX h&l 18-11-16 The US dollar equivalent of other currencies traded, amounts to US$80,504 being bought and selling of US$78,252.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies, in the foreign exchange market on Friday, include a dip in the highest buying rate for the Canadian dollar by $1.77 to $96.83, the lowest selling rate dropped $2 to $90. The highest buying rate for the British Pound dived $4.05 to $159.70, while the lowest selling rate rose $1 to $155. The highest selling rate for the Euro fell $5.75 to $140.05 and lowest selling rate jumped $17.84 to $132.80.

Jamaican$ trades mixed on Thursday

US$ bungle The average closing rates trading the Jamaican dollar in the foreign exchange market were mixed against the main currencies it normally trade with, on Thursday. Dealers bought the equivalent of US$37,367,097 of all currencies, and sold US$36,133,436, compared to US$35,097,312 purchased and US$41,311,362 sold on Wednesday.
In US dollar trading, dealers bought US$31,042,246 compared to US$29,558,721 on Wednesday. The buying rate for the US dollar rose 6 cents to close at $128.41. A total of US$30,989,415 was sold versus US$37,232,249 on Wednesday, with the selling rate rising 2 cents to $129.10. The Canadian dollar buying rate jumped 67 cents to $95.94,FX trde sum 17-11-16 with dealers buying C$6,177,817 and selling C$5,714,958 at an average rate that rose 24 cents to $96.45. The average rate for buying the British Pound dipped 14 cents to $157.33 for the purchase of £934,445 while £325,720 was sold with a rise of 71 cents to end at $160.65.
At the end of trading on Thursday, dealers sold €436,490 with the selling rate for the Euro, closing with a fall of $1.01 to $137.31, according to data from Bank of Jamaica. Dealers purchased €519,931 of the European common currency at $136.28 after falling 89 cents.FX h&l 17-11-16 The US dollar equivalent of other currencies traded, amounts to US$12,130 being bought and selling of US$4,746.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies, in the foreign exchange market on Thursday, include a rise in the highest buying rate for the Canadian dollar by $1.95 to $98.60,. The highest buying rate for the British Pound rose $3.25 to $163.75, while the highest selling rate rose 81 cents to $168.80. The highest selling rate for the Euro climbed $3.80 to $168.80 and lowest selling rate dived $19.24 to $114.96.

Stocks shrug off interest rate rise

Ja inf-stks 11-16.The latest issue of Treasury bill offerings saw the 182 instrument climbing 40 basis points to 6.2 percent while the 91 days T-bill rose marginally to virtually hold at 5.70 percent just a tad above the average in October.
The 28 day T-bill slipped from 5.78 percent to 5.70 percent. At the same time the main market All Jamaica Composite index continues to climb with some companies posting good increased profits.
The rise in the 192 days instrument comes against the back drop of stability in the exchange rate for November to date, very low inflation that seems headed to around than 2 percent for 2016. The change in rates also comes against the change in Bank of Jamaica policy to offer Certificate of Deposits daily to the market to bid on.

Jamaican$ loses value on Wednesday

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Ja $5000 The Jamaican dollar declined against all the main currencies it normally trade with, on Wednesday. Dealers bought the equivalent of US$34,677,888 of all currencies, and sold US$31,463,177, compared to US$37,551,931 purchased and US$29,217,148 sold on Tuesday.
In US dollar trading, dealers bought US$28,002,163 compared to US$32,852,735 on Tuesday. The buying rate for the US dollar declined by 11 cents to close at $128.31. A total of US$26,059,430 was sold versus US$25,045,457 on Tuesday, with the selling rate rising 1 cent to $129.06.FX trde sum 2-11-16 .xls The Canadian dollar buying rate jumped $1.01 to $96.13, with dealers buying C$6,478,095 and selling C$5,747,320 at an average rate that rose 56 cents to $96.95. The average rate for buying the British Pound rose $1.46 to $155.98 for the purchase of £1,383,595 while £797,753 was sold with a rise of 22 cents to end at $157.59.
At the end of trading on Wednesday, dealers sold €55,203 with the selling rate for the Euro, closing with a rise of $2.45 to $142.35, according to data from Bank of Jamaica. Dealers purchased €80,842 of the European common currency at $138.33 after falling 8 cents. FX h&l 2-11-16 The US dollar equivalent of other currencies traded, amounts to US$53,136 being bought and selling of US$51,243.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies, in the foreign exchange market on Wednesday, include a fall in the highest selling rate for the Canadian dollar by $1.05 to $97.25, while the highest selling rate rose $1.15 to $100.98. The highest buying rate for the British Pound rose $1.70 to $158.70 and the lowest buying rate jumped $20.59 to $147, the highest selling rate dived $14.69 to $165.31, the lowest selling rate dropped $1 to $153. The lowest selling rate for the Euro dipped $3.73 to $132.67.

Jamaican$ gains vs US dollar – Tuesday

FX_USPound2 The Jamaican dollar gained against the United States dollar and the euro on Tuesday but closed down against the Canadian dollar and the Pound. Dealers bought the equivalent of US$37,551,931 of all currencies, and sold US$29,217,148, compared to US$46,553,035 purchased and US$39,251,159 sold on Monday.
In US dollar trading, dealers bought US$32,852,735 compared to US$41,925,032 on Monday. The buying rate for the US dollar rose 12 cents to close at $128.42. A total of US$25,045,457 was sold versus US$36,223,594 on Monday, with the selling rate falling 6 cents to $129.05. The Canadian dollar buying rate jumped $1.05 to $95.12, with dealers buying C$3,436,587 and selling C$3,339,290 at an average rate that rose 14 cents to $96.39. FX trde sum 1-11-16 .xlsThe average rate for buying the British Pound rose 32 cents to $154.52 for the purchase of £1,560,575 while £972,185 was sold with a rise of 14 cents to end at $157.37.
At the end of trading on Tuesday, dealers sold €380,838 with the selling rate for the Euro, closing with a drop of $3.74 to $139.90, according to data from Bank of Jamaica. Dealers purchased €184,471 of the European common currency at $138.41 after falling 9 cents. The US dollar equivalent of other currencies traded, amounts to US$77,333 being bought and selling of US$79,219.
FX h&l 1-11-16Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies, in the foreign exchange market on Tuesday, include a rise of $1.08 in the lowest selling rate of the US dollar to $105.12. The highest selling rate for the Canadian dollar declined $1.53 to $99.83. The highest buying rate for the British Pound dropped $11.18 to $157 and the lowest buying rate dropped $6.81 to $126.41, the highest selling rate rose $6.66 to $180 and the lowest selling rate dropped $6 to $152. The highest buying rate for the Euro dipped $5 to $140, the lowest buying rate fell $1.95 to $113.21, the highest selling rate fell $2.97 to $146.88 and the lowest selling rate surged $21.87 to $136.40.

Jamaican$ gains vs US dollar – Monday

US$ bungle The Jamaican dollar gained against the United States and the Canadian dollars on Monday but closed down against the euro and the Pound. Dealers bought the equivalent of US$46,553,035 of all currencies, and sold US$39,251,159, compared to US$44,695,119 purchased and US$37,546,801 sold on Friday.
In US dollar trading, dealers bought US$41,925,032 compared to US$41,312,590 on Friday. The buying rate for the US dollar fell 33 cents to close at $128.30. A total of US$36,223,594 was sold versus US$35,641,076 on Friday, with the selling rate falling 3 cents to $129.11. ICI FX sum 31-10-16The Canadian dollar buying rate dropped 65 cents to $94.07, with dealers buying C$2,576,342 and selling C$1,524,464 at an average rate that slipped 8 cents to $97.25. The average rate for buying the British Pound rose 14 cents to $154.20 for the purchase of £1,844,373 while £637,336 was sold with a rise of $1.22 to end at $157.23.
At the end of trading on Monday, dealers sold €993,558 with the selling rate for the Euro, closing at $143.64 for rise of 69 cents, according to data from Bank of Jamaica. Dealers purchased €467,873 of the European common currency at $138.50 after rising $2.44. The US dollar equivalent of other currencies traded, amounts to US$17,354 being bought and selling of US$9,546.
ICI FX h&l 31-10-16Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies, in the foreign exchange market on Monday, include a fall of $1.60 in the highest buying rate for the Canadian dollar to $77.19, the lowest selling rate jumped $9.72 to $92. The highest buying rate for the British Pound rose $1.10 to $167.60 and the lowest selling rate fell $2 to $150. There were not much changes to highest or lowest rates for the Euro .

Jamaican$ holds vs US dollar – Monday

FX_USPound The selling rate of the Jamaican dollar closed unchanged on Monday as dealers bought the equivalent of US$66,732,742 of all currencies, and sold US$47,361,025, compared to US$62,281,233 purchased and US$50,300,502 sold on Friday.
In US dollar trading, dealers bought US$63,006,330 compared to US$57,960,736 on Friday. The buying rate for the US dollar fell 7 cents to close at $128.70. A total of US$44,536,359 was sold versus US$48,096,845 on Friday, with the selling rate remaining at $129.19. The Canadian dollar buying rate dropped 81 cents to $94.90, ICI FX sum 24-10-16with dealers buying C$2,442,115 and selling C$1,709,029 at an average rate that rose 15 cents to $97.50. The average rate for buying the British Pound dropped 63 cents to $154.41 for the purchase of £1,505,320 while £955,498 was sold with a fall of 24 cents to end at $157.29.
At the end of trading on Monday, dealers sold €327,853 with the selling rate for the Euro, closing at $142.92 for rise of $1.66, according to data from Bank of Jamaica. Dealers purchased €101,358 of the European common currency at $134.07 after falling $2.29. The US dollar equivalent of other currencies traded, amounts to US$14,149 being bought and selling of US$8,876.
ICI FX h&l 24-10-16Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies, in the foreign exchange market on Monday, include a jump of $14.71 in the lowest buying rate for the US Dollar to $104.71. The lowest buying rate for the Canadian dollar declined $1.37 to $77.31, the highest selling rate fell $1.78 to $100.60. The highest buying rate for the British Pound surged $7.95 to $166. Trading in the Euro resulted in a fall of $1.50 in the highest buying rate to $138, the lowest buying rate dipped $1.24 to $112.30 and the highest selling rate fell $1.36 to $146.38.

BOJ intervenes in rigged foreign exchange market

BOJ 3Bank of Jamaica intervened in the rigged foreign exchange market on Friday by selling US$30 million to authorised dealers and cambios, the sale did not prevent the value of the Jamaican dollar from slipping 4 Jamaican cents to end at an average of $129.19 to US$1 as US$58 million was bought by dealers and US$48 million was sold to end users.
Jamaica’s foreign exchange market has been rigged by dealers since July this year as inflows to the market exceeded demand by end users by a wide margin. The central bank in said in a release on the intervention on Friday, “In response to an unwarranted and disruptive movement in the exchange rate over the past few days, Bank of Jamaica today intervened in the market by selling the funds into the market. The intervention is intended to reassure users of foreign exchange that the Bank is standing behind the preservation of orderly conditions in the market.”
“During the week of October 24, the Bank will formally give notice to holders of specified BOJ foreign-currency-denominated certificates of deposit that these instruments will be redeemed prior to their original maturity dates. The total value of these securities amounts to US$258 million. The early redemption of these CDs will add significantly to the volume of US dollar liquidity available to institutions and individuals.”
Concomitant with the decision to release funds into the market from CDs, the central also announced elsewhere fresh issues of CDs for investors to purchase.

Jam$ falters in FX trading – Friday

Ja $5000 Bolstered by US$30 million injection by Bank of Jamaica, dealers bought the equivalent of US$62,281,233 of all currencies, on Friday and sold US$50,300,502, compared to US$23,415,898 purchased and US$27,626,314 sold on Thursday. Trading resulted in a moderate fall in the value of the Jamaican dollar versus the US dollar and made gains in the other major currencies.
In US dollar trading, dealers bought US$57,960,736 compared to US$20,369,097 on Thursday. The buying rate for the US dollar rose 61 cents to close at $128.77. A total of US$48,096,845 was sold versus US$24,442,485 on Thursday, with the selling rate rising 4 cents to end at $129.19. ICI FX sum 21-10-16The Canadian dollar buying rate dropped 43 cents to $95.71, with dealers buying C$1,997,479 and selling C$1,328,368 at an average rate that declined 73 cents to $97.35. The average rate for buying the British Pound dropped 62 cents to $155.04 for the purchase of £2,111,519 while £762,617 was sold at a rate that fell 57 cents to end at $157.53.
At the end of trading on Friday, dealers sold €72,429 with the selling rate for the Euro, closing at $141.26 for fall of $3.75, according to data from Bank of Jamaica. Dealers purchased €85,219 of the European common currency at $136.36 after rising 49 cents. The US dollar equivalent of other currencies traded, amounts to US$203,218 being bought and selling of US$193,580.
ICI FX h&l 21-10-16Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies, in the foreign exchange market on Friday, include a drop of $14.71 in the lowest buying rate of the US Dollar to $90 and a plunge of $19.04 in the lowest selling rate to end at $104.71. The lowest selling rate for the Canadian dollar declined $1.50 to $93. The lowest buying rate for the British Pound fell $1.66 to $127.16. The highest selling rate dropped $2.16 to $165.46. Trading in the Euro resulted in a fall of $3.25 in the highest buying rate to $139.50 and the lowest selling rate fell $2 to $135.

Jamaican$ falters in FX trading – Thursday

Pound The Jamaican foreign exchange market closed on Thursday with selling of foreign exchange exceeding the amount bought by dealers by US$4 million. At the close of trading, the Jamaican dollar lost value versus the main currencies it normally trades with, except the Canadian dollar.
The equivalent of all currencies bought by dealers amounted to US$23,415,898, on Thursday, while US$27,626,314 was sold, compared to US$44,066,825 purchased and US$32,829,162 sold on Wednesday.
In US dollar trading, dealers bought US$20,369,097 compared to US$37,397,500 on Wednesday. The buying rate for the US dollar fell 4 cents to close at $128.16. A total of US$24,442,485 was sold versus US$28,637,721 on Wednesday, with the selling rate rising 23 cents to end at $129.15.ICI FX sum 20-10-16The Canadian dollar buying rate dropped $2.13 to $96.14, with dealers buying C$1,712,415 and selling C$1,186,408 at an average rate that declined $1.08 to $98.08. The average rate for buying the British Pound jumped 61 cents to $155.66 for the purchase of £1,354,854 while £735,369 was sold at a rate that rose 77 cents to end at $158.10.
At the end of trading on Thursday, dealers sold €1,207,103 as the selling rate for the Euro, closed at $145.01 for gain of $3.22, according to data from Bank of Jamaica. Dealers purchased €78,391 of the European common currency at $145.87 after falling $5.65. ICI FX h&l 20-10-16 The US dollar equivalent of other currencies traded, amounts to US$33,600 being bought and selling of US$27,284.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies, in the foreign exchange market on Thursday, include a rise of $1.83 in the lowest buying rate of the British Pound to $128.82. The highest selling rate climbed $3.16 to $167.62 and the highest selling rate of the Euro jumped $4.75 to $147.96.

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