
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.
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 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.
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.
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.
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.
At mid-day on Wednesday dealers purchased US$15.85 million at an average rate of J$125.30 while they sold US$11.25 while they sold US$11.25 million at an average of J$125.91.
US dollar trading in Jamaica’s foreign currency market climbed on Tuesday with inflows exceeding outflows with the rate to buy the US dollar by the public, rising by 18 Jamaican cents, the first time in a week.