The Jamaican dollar made more gains against all four major foreign currencies on Thursday, following gains it made on Wednesday. At the close of the market, dealers bought the equivalent of US$27,160,634 of all currencies and sold US$26,921,870, compared to US$34,294,467 purchased and US$30,046,671 sold on Wednesday.
In US dollar trading, dealers bought US$23,108,403 compared to US$30,548,763 on Wednesday. The buying rate for the US dollar fell by 30 cents to $127.85. A total of US$24,915,142 was sold versus US$27,155,752 on Wednesday, with the selling rate slipping by 5 cents to $128.79.
The Canadian dollar buying rate rose 91 cents to $94.80, with dealers buying C$1,776,682 and selling C$1,342,067 at an average rate that declined by 28 cents to $96.66. The average rate for buying the British Pound dropped $2.01 to $159.46 for the purchase of £1,805,624 while £470,139 was sold with a slip of $1.77, to end at $161.45.
At the end of trading on Thursday, dealers sold €373,840 with the selling rate for the Euro, closing with a fall of $1 to $137.73, according to data from Bank of Jamaica. Dealers purchased €447,343 of the European common currency at $136.20 after falling 71 cents. The US dollar equivalent of other currencies traded, amounts to US$6,099 being bought and selling of US$10,342.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Thursday, include a fall of $1 in the lowest selling rate for the US dollar to end at $123. The highest buying rate for the British Pound dropped $5.55 to $162.20, the lowest buying rate fell $1.66 to$131.14, the highest selling rate climbed $4.04 to $170.64, while the lowest selling rate slipped $1.84 to end at $155.50 and the highest buying rate for the Euro jumped $6.58 to $144.18.
More revaluation for Jamaican$
Jamaican$ slips slightly vs US – Tuesday
The Jamaican dollar slipped slightly against the US dollar on Tuesday but remains below the 129 mark as sales of US dollars exceeded buying. The local currency also fell in value against the other three major currencies.
On Tuesday dealers bought the equivalent of US$34,163,768 of all currencies and sold US$38,672,874, compared to US$58,754,418 purchased and US$39,263,489 sold on Monday.
In US dollar trading, dealers bought US$28,047,652 compared to US$52,747,596 on Monday. The buying rate for the US dollar slipped by 29 cents to $127.95. A total of US$35,449,849 was sold versus US$35,020,783 on Monday, with the selling rate rising by 2 cents to $128.91.
The Canadian dollar buying rate rose by 87 cents to $95.99, with dealers buying C$4,402,789 and selling C$2,199,996 at an average rate that inched up by 5 cents to $97.21. The average rate for buying the British Pound climbed $1.13 to $160.82 for the purchase of £2,063,999 while £950,076 was sold with a rise of $1.15, to end at $163.31.
At the end of trading on Tuesday, dealers sold €222,618 with the selling rate for the Euro, closing with a rise of $1.77 to $139.38, according to data from Bank of Jamaica. Dealers purchased €125,019 of the European common currency at $133.64 after jumping $4.30. The US dollar equivalent of other currencies traded, amounts to US$88,371 being bought and selling of US$119,588.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Tuesday, include a rise of $1.10 in the lowest selling rate for the US dollar to end at $121.10. The lowest selling rate for the Canadian dollar jumped $5 to $92. The highest buying rate for the British Pound rose $4.05 to $168.25, the highest selling rate climbed $1.08 to end at $172.26 while the lowest selling rate rose $3.50 to $157.50.
Jamaican$ steady vs US – Friday
The Jamaican dollar remained below 129 to the US dollar on Friday but lost value versus the other three major currencies, with a big loss against the Canadian dollar, with the country entering a period of high inflows and relatively lower outflows that could well result in some revaluation of the currency in 2017.
On Friday dealers bought the equivalent of US$39,914,464 of all currencies and sold US$37,310,870, compared to US$31,582,543 purchased and US$30,667,869 sold on Thursday.
In US dollar trading, dealers bought US$34,228,934 compared to US$28,148,803 on Thursday. The buying rate for the US dollar rose 1 cent to close at $128.24. A total of US$33,195,116 was sold versus US$29,170,051 on Thursday, with the selling rate remaining at $128.95.
The Canadian dollar buying rate climbed sharply by $3.13 to $96.34, with dealers buying C$4,329,688 and selling C$3,693,831 at an average rate that surged $2.57 to $97.24. The average rate for buying the British Pound rose $1.15 to $160.36 for the purchase of £1,766,954 while £928,822 was sold with a rise of 82 cents to end at $162.12.
At the end of trading on Friday, dealers sold €145,186 with the selling rate for the Euro, closing with a rise of $3.67 to $139.11, according to data from Bank of Jamaica. Dealers purchased €100,568 of the European common currency at $132.38 after rising 70 cents.
The US dollar equivalent of other currencies traded, amounts to US$119,348 being bought and selling of US$5,648.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Friday, include a decline of $1.59 in the highest buying rate for the British Pound to $164.15, a fall of $2.53 in the highest selling rate to end at $166.71 while the lowest selling rate declined $2.70 to $151.30. The highest selling rate for the Euro declined by $1.38 to $141.72.
Jamaican $ almost steady vs US – Wednesday
The Jamaican dollar declined three major currencies but remained firm versus the euro in the foreign exchange market. On Wednesday dealers bought the equivalent of US$39,189,951 of all currencies and sold US$34,123,507, compared to US$66,535,327 purchased and US$64,508,975 sold on Tuesday.
In US dollar trading, dealers bought US$34,730,432 compared to US$59,608,976 on Tuesday. The buying rate for the US dollar rose 10 cents to close at $128.30. A total of US$32,306,693 was sold versus US$60,637,044 on Tuesday, with the selling rate rising 3 cents, to $129.04.
The Canadian dollar buying rate rose by 35 cents to $92.93, with dealers buying C$1,606,912 and selling C$693,816 at an average rate that gained 49 cents to $95.30. The average rate for buying the British Pound gained by 43 cents to $158.26 for the purchase of £2,308,776 while £845,426 was sold with a rise of $1.06 to end at $160.65.
At the end of trading on Wednesday, dealers sold €185,300 with the selling rate for the Euro, closing unchanged at $139.59, according to data from Bank of Jamaica. Dealers purchased €84,378 of the European common currency at $132.47 after falling $1.12. The US dollar equivalent of other currencies traded, amounts to US$360,636 being bought and selling of US$50,852.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Wednesday, include a decline of $1.10 in the highest buying rate for the US dollar and a rise of $15.96 in the lowest selling rate to end at $120. The highest buying rate for the Canadian dollar dropped $22.50 to $97.50 while there was a drop of $13.90 in the lowest selling rate to $91 and the highest buying rate for the Euro declined by $18.54 to $138.70.
Jamaican $ make gains vs US – Tuesday
The Jamaican dollar gained against the US and Canadian dollars as trading resumed fully in the foreign exchange market after the Monday when the country had partial closure due to Local Government elections. The local currency slipped against the Pound and the euro.
Over the two days to Tuesday dealers bought the equivalent of US$66,535,327 of all currencies and sold US$64,508,975, compared to US$43,223,641 purchased and US$46,444,892 sold on Friday.
In US dollar trading, dealers bought US$59,608,976 compared to US$38,657,105 on Friday. The buying rate for the US dollar fell 29 cents to close at $128.20. A total of US$60,637,044 was sold versus US$43,567,152 on Friday, with the selling rate falling 6 cents, to $129.01.
The Canadian dollar buying rate rose by 1 cent to $92.58, with dealers buying C$3,293,804 and selling C$1,184,938 at an average rate that fell 11 cents to $94.80. The average rate for buying the British Pound declined by 40 cents to $157.83 for the purchase of £3,424,418 while £1,457,937 was sold with a rise of 8 cents to end at $159.59.
At the end of trading on Tuesday, dealers sold €1,088,855 with the selling rate for the Euro, closing with a rise of $4.42 to $139.59, according to data from Bank of Jamaica. Dealers purchased €301,109 of the European common currency at $133.60 after falling $1.30. The US dollar equivalent of other currencies traded, amounts to US$18,022 being bought and selling of US$16,309.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Tuesday, include a rise of $22.45 in the highest buying rate for the Canadian dollar to $120 and a drop of $14.40 in the lowest selling rate to $77.10. The highest buying rate for the British Pound climbed by $3.80 to $164 and the highest selling rate rose $3.50 to $168.48. The highest buying rate for the Euro rose $21.44 to $157.24.
J$ gains vs all in FX trading – Friday
The Jamaican dollar gained against the four major currencies in trading on Friday as volumes climb. Dealers bought the equivalent of US$43,223,641 of all currencies and sold US$46,444,892, compared to US$23,131,959 purchased and US$18,138,969 sold on Thursday.
In US dollar trading, dealers bought US$38,657,105 compared to US$19,995,977 on Thursday. The buying rate for the US dollar rose 34 cents to close at $128.49. A total of US$43,567,152 was sold versus US$17,183,431 on Thursday, with the selling rate falling a fraction of a cent, to just under $129.07. The Canadian dollar buying rate climbed 27 cents to $92.57, with dealers buying C$1,600,642 and selling C$1,365,863 at an average rate that fell 49 cents to $94.91.
The average rate for buying the British Pound rose by 61 cents to $158.23 for the purchase of £2,256,134 while £992,218 was sold with a fall of $1.27 to end at $159.51.
At the end of trading on Friday, dealers sold €461,281 with the selling rate for the Euro, closing with a fall of $1.58 to $139.57, according to data from Bank of Jamaica. Dealers purchased €510,595 of the European common currency at $134.90 after jumping $4.36. The US dollar equivalent of other currencies traded, amounts to US$98,934 being bought and selling of US$162,509.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies, in the foreign exchange market on Friday, include a drop in the lowest selling rate for the US dollar by $19.96, to $104.04. A rise of $1.45 in the highest buying rate for the Canadian dollar to $97.55. The highest selling rate for the British Pound declined by $2.96 to $164.98 and the highest buying rate for the Euro rose $1.60 to $135.80.
Jamaican$ gains vs. US$ – Wednesday
The Jamaican dollar gained moderately in foreign exchange trading on Wednesday against the United States but fell against the other three major currencies. Dealers bought the equivalent of US$42,647,035 of all currencies and sold US$37,480,324, compared to US$38,545,626 purchased and US$30,346,908 sold on Tuesday.
In US dollar trading, dealers bought US$37,980,242 compared to US$33,256,940 on Tuesday. The buying rate for the US dollar climbed 13 cents to close at $128.49. A total of US$32,510,365 was sold versus US$26,749,165 on Tuesday, with the selling rate falling 4 cents to end at $129.05. The Canadian dollar buying rate rose 14 cents to $95.38, with dealers buying C$4,351,922 and selling
C$4,660,973 at an average rate that climbed 61 cents to $96.95. The average rate for buying the British Pound fell $1.21 to $156.74 for the purchase of £756,557 while £280,437 was sold with a gain of 80 cents to end at $160.67.
At the end of trading on Wednesday, dealers sold €941,766 with the selling rate for the Euro, closing with a rise of 39 cents to $137.91, according to data from Bank of Jamaica. Dealers purchased €472,871 of the European common currency at $135.65 after rising $2.24. The US dollar equivalent of other currencies traded, amounts to US$14,312 being bought and selling of US$112,861.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies in the foreign exchange market on Wednesday, include a rise in the highest buying rate for the Canadian dollar of $2.20 to $99. The highest buying rate for the British Pound climbed $1 to $162, the highest selling rate lost $1.02 to $167.46, while the lowest selling rate climbed $3.50 to $156. The highest buying rate for the Euro fell $1.10 to $137, the highest selling rate dropped $2.31 to $140 and the lowest selling rate rose by 80 cents to $132.80.
Jamaica’s Net International Reserves (NIR) grew by US$113 million during November to end at US$2.56 billion in one of the worse months for foreign exchange inflows. The build-up of the NIR in November is a telling sign of the revaluation that is coming for the Jamaican dollar, in the months ahead, as inflows of foreign exchange increase in the winter months ahead.
In US dollar trading, dealers bought US$30,548,763 compared to US$28,047,652 on Tuesday. The buying rate for the US dollar rose by 20 cents to $128.15. A total of US$27,155,752 was sold versus US$35,449,849 on Tuesday, with the selling rate slipping by 7 cents to $128.84. The Canadian dollar buying rate dropped $2.10 to $93.89, with dealers buying C$1,544,033 and selling C$789,198 at an average rate that declined by 26 cents to $96.94. The average rate for buying the British Pound climbed 65 cents to $161.47 for the purchase of £1,660,805 while £1,176,733 was sold with a slip of 9 cents, to end at $163.22.
The US dollar equivalent of other currencies traded, amounts to US$6,948 being bought and selling of US$8,208.
The Jamaican dollar slipped further below 129 mark to the US dollar on Monday as revaluation of the local currency continues to take hold and it enjoyed gains versus the Canadian dollar and the Euro but slipped mildly against the British pound, as inflows of foreign currency was US$19 million more than the amount sold.
The Canadian dollar buying rate fell by $1.22 to $95.12, with dealers buying C$4,127,945 and selling C$4,023,122 at an average rate that fell 8 cents to $97.16. The average rate for buying the British Pound declined 67 cents to $159.69 for the purchase of £2,214,209 while £755,070 was sold with a rise of 5 cents, to end at $162.17.
include a jump of $15.75 in the lowest selling rate for the US dollar to end at $120. The highest selling rate for the Canadian dollar rose $1.08 to $101.52 while there was a drop of $5.80 in the lowest selling rate to $87. The lowest buying rate for the British Pound rose $1.08 to $131.56, the highest selling rate climbed $4.47 to end at $171.18 while the lowest selling rate rose $2.70 to $154. The highest buying rate for the Euro rose $1 to $136 and the highest selling rate moved up $2.14 to $143.86.
The Canadian dollar buying rate rose by 28 cents to $93.21, with dealers buying C$1,849,736 and selling C$884,304 at an average rate that fell 63 cents to $94.67. The average rate for buying the British Pound rose 95 cents to $159.21 for the purchase of £1,595,600 while £627,875 was sold with a rise of 65 cents to end at $161.30.
amounts to US$5,915 being bought and selling of US$4,781.