Trading in the Jamaican foreign exchange market remained elevated on Wednesday, resulted in US$50.57 of purchases by dealers of all currencies and outflows of US$42.83 million.
In contrast, purchases by dealers on Tuesday amounted to the equivalent of US$53.88 million while dealers sold US$42.39 million.
In USA dollar trading, inflows ended at US$40.92 million versus US$46.71 million on Tuesday with outflows of US$34.27 million compared to US$36.62 million.
At the end of trading, the US dollar was sold at an average rate of J$129.91 from J$129.42 previously while dealers bought the US currency at an average of J$128.63 versus J$128.29 on Tuesday.
The selling rate for the Canadian dollar climbed to J$105.61 from J$105.17 at the close on Tuesday while the British Pound was more costly, with J$168.72 buying the British currency versus J$165.79 and the euro, gained in value against the Jamaican dollar, with it taking J$155.69 to buy the European common currency, versus J$155.95 previously.
Jamaica’s forex trading remains elevated – Wednesday
Jamaica’s forex trading jumps – Tuesday
Trading in the Jamaican foreign exchange market jumped sharply on Tuesday, resulted in US$53.88 of purchases by dealers of all currencies and outflows of US$42.39 million.
In contrast, purchases by dealers on Monday amounted to the equivalent of US$21.92 million while dealers sold US$13.99 million.
In USA dollar trading, inflows ended at US$46.71 million versus US$19.05 million on Monday with outflows of US$36.62 million compared to a mere US$12.31 million.
At the end of trading, the US dollar was sold rate of J$129.42 from J$129.32 previously while dealers bought the US currency at an average of J$128.29 versus J$126.73 on Monday.
The selling rate for the Canadian dollar climbed to J$105.17 from J$102.94 at the close on Monday while the British Pound was sold at an average of J$165.79 for the British currency versus J$166.99 previously and the euro, gained in value against the Jamaican dollar, with it taking J$155.95 to buy the European common currency, versus J$154.53 previously.
Jamaica’s forex trading falls sharply – Monday
Trading in the Jamaican foreign exchange market dropped sharply on Monday, resulted in only US$21.92 of purchases by dealers of all currencies and outflows of just US$13.99 million.
In contrast, purchases by dealers on Friday amounted to the equivalent of US$42.05 million while dealers sold US$26.69 million.
At the end of trading, the US dollar was sold rate of J$129.32 from J$129.52 previously while dealers bought the US currency at an average of J$126.73 versus J$128.42 on Friday.
In USA dollar trading, inflows ended at US$19.05 million versus US$38.63 million on Friday with outflows of US$12.31 million compared to US$24.41 million.
The selling rate for the Canadian dollar dropped to J$102.94 from J$104.30 at the close on Friday while the British Pound was also less costly, with J$166.99 buying the British currency versus J$167.22 and the euro, gained in value against the Jamaican dollar, with it taking J$154.53 to buy the European common currency, versus J$153.82 previously.
US$ Demand falls sharply in Jamaica – Friday
Trading in the Jamaican foreign exchange market on Friday, resulted in a big difference between purchases and sales, with purchasing of all currencies ending at US$42.05 million and outflows at US$26.69 million.
Purchases by dealers on Thursday amounted to the equivalent of US$83.06 million while dealers sold US$59.28 million.
At the end of trading, the US dollar was sold at J$129.52 from J$129.65 previously while dealers bought the US currency at an average of J$128.42 versus J$128.87 on Thursday.
In USA dollar trading, inflows ended at US$38.63 million versus US$76.39 million on Thursday with outflows of US$24.41 million compared to US$53.52 million.
The selling rate for the Canadian dollar rose to J$104.30 from J$103.77 at the close on Thursday while the British Pound was more costly, with J$167.22 buying the British currency versus J$165.72 and the euro, gained in value against the Jamaican dollar, with it taking J$153.82 to buy the European common currency, versus J$153.55 previously.
Jamaica’s forex inflows jump – Thursday
Trading in the Jamaican foreign exchange market on Thursday resulted in a big surge in the amounts purchased and sold by dealers and a fall in the value of the local currency against the US dollar.
Trading ended with inflows of US$83.06 million compared to US$45.12 million on Wednesday. Outflows amounted to only US$59.28 million compared to US$45.80 million of all currencies on the prior trading day. Inflows for August ended at US$955 million up from US$939 million in July while outflows were almost the same in both months at US$751 million versus US$750 million in July. Interestingly while inflows for June was in the order of August and July at US$939 million outflows were far higher at US$872 million.
At the end of trading the US dollar was sold rate of J$129.65 from J$129.33 previously, even as inflows rose sharply over Wednesday’s intake. Dealers bought the US currency at an average of J$128.87 versus J$128.16 on Wednesday.
In USA dollar trading, inflows ended at US$76.39 million versus US$39.70 million on Wednesday with outflows of US$53.52 million compared to US$37.91 million.
The selling rate for the Canadian dollar rose to J$103.77 from J$103.71 at the close on Wednesday while the British Pound was less costly, with J$165.72 buying the British currency versus J$167.53 and the euro, lost value against the Jamaican dollar, with it taking J$153.55 to buy the European common currency, versus J$157.24 previously.
Jamaican$ drops to J$129.33 to US$1
Trading in the Jamaican foreign exchange market on Wednesday resulted in the Jamaican dollar declining in value against the US dollar, following Tuesday’s decline with the selling rate ending at J$129.33 from J$128.77 previously, even as inflows rose over Tuesday’s intake.
Dealers bought the US currency at an average of J$128.16, versus J$127.36 on Tuesday. Trading ended with inflows of US$45.12 million compared to US$38.41 million on Tuesday with Bank of Jamaica is entitled to approximately 25 percent of the inflows or around $10 million of Wednesday’s intake. Outflows amounted to only US$45.80 million compared to US$35.70 million of all currencies on the prior trading day.
In USA dollar trading, inflows ended at US$39.70 million versus US$31.76 million on Tuesday with outflows of US$37.91 million compared to US$26.33 million.
The selling rate for the Canadian dollar fell to J$103.71 from J$104.44 at the close on Tuesday while the British Pound was more costly, with J$167.53 buying the British currency versus J$167.23 and the euro, rose in value against the Jamaican dollar, with it jumping to J$157.24 to buy the European common currency, versus J$156.41 previously.
Jamaican$ falls again – Tuesday
Trading in the Jamaican foreign exchange market on Tuesday resulted in the Jamaican dollar declining in value against the US dollar, following Monday’s decline with the selling rate ending at J$128.77 from J$128.68 previously.
Dealers bought the US currency at an average of J$127.36, versus J$127.23 on Monday. Trading ended with inflows of US$38.41 million compared to US$45.59 million on Monday with Bank of Jamaica is entitled to approximately 25 percent of the inflows or around $10 million of Tuesday’s intake. Outflows amounted to only US$35.70 million compared to US$30.40 million of all currencies on the prior trading day.
In USA dollar trading, inflows ended at US$ 31.76 million versus US$41.64 million on Monday with outflows of US$26.33 million compared to US$28.38 million.
The selling rate for the Canadian dollar climbed to J$104.44 from J$103.82 at the close on Monday while the British Pound was more costly, with J$167.23 buying the British currency versus J$166.02 and the euro, rose in value against the Jamaican dollar, with it jumping to J$156.41 to buy the European common currency, versus J$151.81 previously.
Value slips for Jamaican$ – Monday
Trading in the Jamaican foreign exchange market on Monday resulted in the Jamaican dollar declining in value against the US dollar, with the selling rate ending at J$128.68 from J$128.41 previously. Dealers bought the US currency at an average of J$127.23, versus J$127.17 on Friday.
Trading ended with inflows of US$45.59 million compared to US$32.69 million on Friday with Bank of Jamaica is entitled to approximately 25 percent of the inflows or around $11.4 of Monday’s intake. Outflows amounted to only US$30.40 million compared to US$19.34 million of all currencies on the prior trading day.
In USA dollar trading, inflows ended at US$41.64 million versus US$28.37 million on Friday with outflows of US$28.38 million compared to US$16.32 million.
The selling rate for the Canadian dollar climbed to J$103.82 from J$103.11 at the close on Friday while the British Pound was more costly, with J$166.02 buying the British currency versus J$165.59 and the euro, rose in value against the Jamaican dollar, with it taking J$151.81 to buy the European common currency, versus J$150.79 previously.
Jamaican$ gains as demand drops – Friday
Trading in the Jamaican foreign exchange market on Friday resulted in the Jamaican dollar rising modestly in value against the US dollar for the second consecutive day, with the selling rate ending at J$128.41 from J$128.65 previously.
Dealers bought the US currency at an average of J$127.17, versus J$127.26 on Thursday.
For the week inflows totaled US$181 versus US$196 million in the previous week with outflows of US$129 million compared to US$160 million.
Trading ended with inflows of US$32.69 million compared to US$32.08 million on Thursday with Bank of Jamaica is entitled to approximately 25 percent of the inflows or around $8 of the intake. Outflows amounted to only US$19.34 million compared to US$22.79 million of all currencies previously.
In USA dollar trading, inflows ended at US$28.37 million versus US$27.16 million on Thursday with outflows of US$16.32 million compared to US$18.32 million.
The selling rate for the Canadian dollar fell to J$103.11 from J$103.32 at the close on Thursday while the British Pound was more costly, with J$165.59 buying the British currency versus J$163.97 and the euro, fell in value against the Jamaican dollar, with it taking J$150.79 to buy the European common currency, versus J$153.31 previously.
Jamaican$ makes gains – Thursday
Trading in the Jamaican foreign exchange market on Thursday resulted in the Jamaican dollar rising modestly in value against the US dollar, with the selling rate ending at J$128.65 from J$128.73 previously.
Dealers bought the US currency at an average of J$127.26, versus J$127.59 on Wednesday. Trading ended with inflows of US$32.08 million compared to US$35.07 million on Wednesday with Bank of Jamaica is entitled to approximately 25 percent of the inflows or around $8 of the intake. Outflows amounted to US$22.79 million compared to US$29.29 million of all currencies previously.
In USA dollar trading, inflows ended at US$27.16 million versus US$36.43 million on Wednesday with outflows of US$18.32 million compared to US$26.43 million.
The selling rate for the Canadian dollar rose to J$103.32 from J$102.92 at the close on Wednesday while the British Pound was less costly, with J$163.97 buying the British currency versus J$165.58 and the euro, fell in value against the Jamaican dollar, with it taking J$153.31 to buy the European common currency, versus J$153.52 previously.