The average rate for exchanging the Jamaican dollar against the US dollar, dropped to $125.05 at mid-day on Friday but ended slightly higher by the close of trading and now seems set to be at the $125 level by the end of the year.
On Friday at midday dealers purchased US$11.56 million at an average rate of J$124.12 and sold US$11.66 million at an average of J$125.05. At mid-day on Thursday dealers purchased US$17.14 million at an average rate of J$124.66 while they sold US$10.63 million at an average of J$125.28.
In a remarkable week for the local currency, dealers sold the equivalent of US$282 million while buying US$268 million as the rate slipped from 125.49 at the end of the prior week to $125.22 for sale of US dollars. Unlike august to November when the bank of Jamaica weekly BFIXT auction was active no sales took place in December and none are planned for the next four weeks.
The rate the public bought the US dollar ended at $125.22 at the close with dealers selling US$45.45 million in US currency, compared US$60.19 million at an average rate of $125.34 on Thursday. US currency purchases by dealers, amounted to US$39.05 million on Friday, at an average rate of $123.95, compared to Thursday, with US$47.45 million at $124.23.
Dealers’ purchased US$46.49 million, versus US$51.81 million on Thursday in all currencies, in Jamaica’s Forex market and sold US$51.79 million compared with US$62.42 million sold, previously.
The selling rate for the Canadian dollar climbed to J$98.95 from J$96.33 at the close on Thursday. The selling rate for the British Pound fell to J$167.57 versus J$167.61 previously and the euro lost value against the Jamaican dollar at J$148.19 to buy the European common currency, versus the prior selling rate of J$150.67.
Yuletide selloff of US$ continues
The rate for exchanging the Jamaican dollar against the US dollar, dropped by 21 cents in foreign currency trading on Thursday, with total inflows of all foreign currencies less than outflows as dealers continue to offload excess funds.
The public bought the US dollar at $125.34 with dealers selling US$60.19 million in US currency, compared US$60.97 million at an average rate of $125.55 on Wednesday. US currency purchases by dealers, amounted to US$47.45 million on Thursday, at an average rate of $124.23, compared to Wednesday, with US$49.36 million at $124.35.
On Thursday at midday dealers purchased US$17.14 million at an average rate of J$124.66 and sold US$10.63 million at an average of J$125.27. At mid-day on Wednesday dealers purchased US$13.65 million at an average rate of J$124.76 while they sold US$17.02 million at an average of J$125.61.
Dealers’ purchased US$51.81 million, versus US$53.56 million on Wednesday in all currencies, in Jamaica’s Forex market and sold US$62.42 million compared with US$63.79 million sold, previously.
The selling rate for the Canadian dollar declined to J$96.33 from J$96.78 at the close on Wednesday. The selling rate for the British Pound declined to J$167.37 versus J$168.00 previously and the euro rose in value against the Jamaican dollar at J$150.67 to buy the European common currency, versus the prior selling rate of J$149.28.
US dollar selling pushes up rate
The rate for exchanging the Jamaican dollar against the US dollar, rose by 8 cents in foreign currency trading on Wednesday, with total inflows of all foreign currencies less than outflows as dealers offload excess funds.
The public bought the US dollar at $125.55 with dealers selling US$60.97 million in US currency, compared US$47.50 million at an average rate of $125.47 on Tuesday. US currency purchases by dealers, amounted to US$49.36 million on Wednesday, at an average rate of $124.35, compared to Tuesday, with US$49.13 million at $124.45.
On Wednesday at midday dealers purchased US$13.65 million at an average rate of J$124.76 and sold US$17.02 million at an average of J$125.61. At mid-day on Tuesday dealers purchased US$24.68 million at an average rate of J$125.07 while they sold US$11.56 million at an average of J$125.38.
Dealers’ purchased US$53.56 million, versus US$56.52 million on Tuesday in all currencies in Jamaica’s Forex market and sold US$63.79 million compared with US$55.93 million sold, previously.
The selling rate for the Canadian dollar declined to J$96.78 from J$97.49 at the close on Tuesday. The selling rate for the British Pound jumped to J$168.00 versus J$167.37 previously and the euro fell in value against the Jamaican dollar at J$149.28 to buy the European common currency, versus the prior selling rate of J$150.39.
Jamaican$ stable close to 125 to US$1
The rate for exchanging the Jamaican dollar against the US dollar, declined a bit more in foreign currency trading on Tuesday, with total inflows of all foreign currencies evenly matched outflows.
The public bought the US dollar at $125.47 with dealers selling US$47.50 million in US currency, compared US$44.94 million at an average rate of $125.48 on Monday. US currency purchases by dealers, amounted to US$49.13 million on Tuesday, at an average rate of $124.45, compared to Monday, with US$53.17 million at $124.27.
On Tuesday at midday dealers purchased US$24.68 million at an average rate of J$125.07 and sold US$11.56 million at an average of J$125.38. At mid-day on Monday dealers purchased US$22.86 million at an average rate of J$124.85while they sold US$13.55 million at an average of J$125.29.
Dealers’ purchased US$56.52 million, versus US$60.12 million on Monday in all currencies in Jamaica’s Forex market and sold US$55.93 million compared with US$48.49 million sold, previously.
The selling rate for the Canadian dollar declined to J$97.49 from J$97.53 at the close on Monday. The selling rate for the British Pound jumped to J$167.37 versus J$166.83 previously and the euro rose in value against the Jamaican dollar at J$150.39 to buy the European common currency, versus the prior selling rate of J$148.46.
Jamaican$ inched closer to 125 to US$1
Chart showing the Jamaican dollar could go back to 120 to US dollar in 2018.
The rate for exchanging the Jamaican dollar against the US dollar, slipped a bit more in foreign currency trading on Monday, with total inflows of all foreign currencies exceeding sales by nearly US$12 million.
The public bought the US dollar at $125.48 as dealers sold US$44.94 million in US currency, compared US$33.37 million at an average rate of $125.49 on Friday. US currency purchases by dealers, amounted to US$53.17 million on Monday, at an average rate of $124.27, compared to Friday, with US$32.42 million at $124.22.
On Monday at midday dealers purchased US$22.86 million at an average rate of J$124.85 and sold US$13.55 million at an average of J$125.29. At mid-day on Friday dealers purchased US$10.65 million at an average rate of J$124.97 while they sold US$7.6 million at an average of J$125.27.
Dealers’ purchased US$60.12 million, versus US$35.66 million on Friday in all currencies in Jamaica’s Forex market and sold US$48.49 million compared with US$35.51 million sold, previously.
The selling rate for the Canadian dollar rose to J$97.53 from J$97.02 at the close on Friday. The selling rate for the British Pound dropped to J$166.83 versus J$167.01 previously and the euro rose in value against the Jamaican dollar at J$148.46 to buy the European common currency, versus the prior selling rate of J$148.34.
Jamaican$ nears 125 to US$1 – Friday
Chart shows Jamaican$ could go back to 120 to US$1 in 2018.
The rate for exchanging the Jamaican dollar against the US dollar, declined by 22 cents in foreign currency trading on Friday, with trading volumes falling to lowest for the week of just over US$32 million.
On Friday, the public bought the US dollar at $125.49 as dealers sold US$33.37 million in US currency, compared US$45.59 million at an average rate of $125.71 on Thursday. US currency purchases by dealers, amounted to US$32.42 million on Friday, at an average rate of $124.22, compared to Thursday, with US$43.08 million at $124.63.
On Friday at midday dealers purchased US$10.65 million at an average rate of J$124.97 and sold US$7.6 million at an average of J$125.27. At mid-day on Thursday dealers purchased US$14.8 million at an average rate of J$125.06 while they sold US$8.4 million at an average of J$125.69.
Dealers’ purchased US$35.66 million, versus US$52.22 million on Thursday in all currencies in Jamaica’s Forex market and sold US$35.51 million compared with US$53.84 million sold, previously.
The selling rate for the Canadian dollar slipped to J$97.02 from J$98.04 at the close on Thursday. The selling rate for the British Pound dropped to J$167.01 versus J$169.65 previously and the euro lost value against the Jamaican dollar at J$148.34 to buy the European common currency, versus the prior selling rate of J$149.71.
Jamaican$ regains ground – Thursday
The Jamaican dollar recovered the loss suffered on Tuesday and Wednesday against the US dollar, with the local currency gaining 6 cents in foreign currency trading on Thursday, with trading falling back to more normal levels from the heightened levels on Wednesday.
On Thursday, the public bought the US dollar at $125.71 as dealers sold US$45.59 million in US currency, compared US$65.75 million at an average rate of $125.77 on Wednesday. US currency purchases by dealers, amounted to US$43.08 million on Thursday, at an average rate of $124.63, compared to Wednesday, with US$59.18 million at $124.85.
On Thursday at midday dealers purchased US$14.8 million at an average rate of J$125.06 and sold US$8.4 million at an average of J$125.69. At mid-day on Wednesday dealers purchased US$12.01 million at an average rate of J$125.11 while they sold US$9.08 million at an average of J$125.85.
Dealers’ purchased US$52.22 million, versus US$65.32 million on Wednesday in all currencies in Jamaica’s Forex market and sold US$53.84 million compared with US$69.63 million sold, previously.
The selling rate for the Canadian dollar rose to J$98.04 from J$97.86 at the close on Wednesday. The selling rate for the British Pound jumped to J$169.65 versus J$166.67 previously and the euro rose in value against the Jamaican dollar at J$149.71 to buy the European common currency, versus the prior selling rate of J$147.89.
Jamaican$ falls in heavy trading- Wednesday
The Jamaican dollar slipped in value against the US dollar, with the local currency losing 4 cents foreign currency trading on Wednesday, with heavy trading in excess of US$65 million.
On Wednesday, the rate the public bought the US dollar at, rose to $125.77 as dealers sold US$65.75 million in US currency, compared US$44.14 million at an average rate of $125.73 on Tuesday. US currency purchases by dealers, amounted to US$59.18 million on Wednesday, at an average rate of $124.85, compared to Tuesday, with US$48.74 million at $124.77.
On Wednesday at midday dealers purchased US$12.01 million at an average rate of J$125.11 and sold US$9.08 million at an average of J$125.85.
At mid-day on Tuesday dealers purchased US$12.31 million at an average rate of J$125.14 while they sold US$3.83 million at an average of J$125.71.
Dealers’ purchased US$65.32 million, versus US$61.43 million on Tuesday in all currencies in Jamaica’s Forex market and sold US$69.63 million compared with US$54.44 million sold, previously.
The selling rate for the Canadian dollar rose to J$97.86 from J$97.82 at the close on Tuesday. The selling rate for the British Pound slipped to J$166.67 versus J$166.83 previously and the euro rose in value against the Jamaican dollar at J$147.89 to buy the European common currency, versus the prior selling rate of J$146.99.
Jamaican$ value eased – Tuesday
The Jamaican dollar slipped in value against the US dollar, with the local currency losing 3 cents foreign currency trading on Tuesday, with inflows rising over Monday’s intake and ending higher than outflows.
On Tuesday, the rate the public bought the US dollar at, rose to $125.73 as dealers sold US$44.14 million in US currency, compared US$45.34 million at an average rate of $125.70 on Monday. US currency purchases by dealers amounted to US$48.74 million on Tuesday, at an average rate of $124.77, compared to Monday, with US$46.94 million at $124.68.
On Tuesday at midday dealers purchased US$12.31 million at an average rate of J$125.14 and sold only US$3.83 million at an average of J$125.71.
At mid-day on Monday dealers purchased US$22.58 million at an average rate of J$125.14 while they sold US$22.48 million at an average of J$125.71.
Dealers’ purchased US$61.43 million, versus US$59.08 million on Monday in all currencies in Jamaica’s Forex market and sold US$54.44 million compared with US$55.58 million sold, previously.
The selling rate for the Canadian dollar slipped to J$97.82 from J$97.93 at the close on Monday. The selling rate for the British Pound dropped to J$166.83 versus J$168.13 previously and the euro fall in value against the Jamaican dollar at J$146.99 to buy the European common currency, versus the prior selling rate of J$149.74.
More gains for Jamaican$ – Monday
The Jamaican dollar continued to gain in value against the US dollar, at the start of the week with the local currency gained in foreign currency trading on Monday, with inflows rising over Friday’s intake and ending higher than outflows.
On Monday, the rate the public bought the US dollar at, fell to $125.70 as dealers sold US$45.34 million in US currency, compared US$50.39 million at an average rate of $125.82 on Friday. US currency purchases by dealers amounted to US$46.94 million on Monday, at an average rate of $124.68, compared to Friday, with US$40.20 million at $124.83.
On Monday at midday dealers purchased US$22.58 million at an average rate of J$125.14 and sold US$22.48 million at an average of J$125.71. At mid-day on Friday dealers purchased US$13.5 million at an average rate of J$125.27 while they sold US$16.47 million at an average of J$125.83.
Dealers’ purchased US$59.08 million, versus US$51.76 million on Friday in all currencies in Jamaica’s Forex market and sold US$55.58 million compared with US$63.86 million sold, previously.
The selling rate for the Canadian dollar rose to J$97.93 from J$98.31 at the close on Friday. The selling rate for the British Pound slipped to J$168.13 versus J$168.91 previously and the euro rose in value against the Jamaican dollar at J$149.74 to buy the European common currency, versus the prior selling rate of J$146.96.