Dealers sold US$44.57 million at an average rate of $127.53 to the US dollar, at the close of trading, compared to US$39.74 million at $127.61 on Tuesday.
US currency purchases, amounted to US$44.40 million on Wednesday, at an average rate of $126.63 compared to Tuesday, with US$39.74 million at $126.95.
Dealers purchased US$58.58 million, versus US$54.45 million in all currencies into Jamaica’s forex market and sold US$56.55 million compared with US$56.20 million previously.
At Midday, dealers bought US$20 million at J$127.10 and sold US$12.5 million at J$127.59 compared to the buying of US$19.1 million at J$127.10 and selling of US$15.17 million at J$127.49 at the same time on Tuesday. In the Central Bank foreign exchange auction the weighted average rate of accepted bids of $127.34 as 44 bids amounting to US$25.7 million were entered for the US$10 million that was on offer.
The selling rate for the Canadian dollar rose to J$102.37 from J$101.86 at the close on Tuesday. The selling rate for the British Pound fell to J$167.80 versus J$168.30 on Tuesday and the euro inched up in value against the Jamaican dollar, to J$150.68 to buy the European common currency, versus J$150.16 previously.
Dealers sold US$39.74 million at an average rate of $127.57 to the US dollar, at the close of trading, compared to US$57.69 million at $127.61 on Monday.
The Jamaican dollar made more gains in foreign exchange trading on Monday, closing 17 cents better to purchase one US dollar than on Friday, on a day that saw inflows surge to US$87 million for all currencies.
The Jamaican dollar made modest gains In the foreign exchange trading on Friday to close 3 cents better to purchase one US dollar than on Thursday on a day that saw C$76,397,101 being sold (US$60,805,327 equivalent) at J$101.70 versus J$102.76 on Thursday.
Inflows of all currencies into Jamaica’s forex market fell to US$44.14million, from US$58.03 million on Thursday while dealers sold US$101.2 million versus US$40.33 million, previously.
Jamaica’s foreign exchange dealers sold US$33 million more US dollars than they purchased this week, adding to the US$35.5 million net sales in the prior week.
US currency purchases, accounted for US$33.81 million on Friday at an average rate of $127.23 compared to Thursday at US$36.57 million at $127.58. Dealers sold US$43.84 million at an average rate of J$128.22 versus J$128.41 for US$42.52 million, previously.
The recent selloff of US dollars continued in the Jamaican forex market on Thursday, with dealers on average in buying the US dollar for 31 cents lower than on Wednesday while the rate they sold funds at fell 19 cents from Wednesday and is down $1.16 from last week’s peak.
The selloff of US dollars continued in forex market activities on Wednesday.