J$ resumes revaluation – Friday

After slipping modestly against the US dollar on Thursday the Jamaican dollar resumes its more than one month revaluation again on Friday, as inflows of foreign exchange continues to exceed outflows at an increasing rate.
Dealers sold the US dollar for an average that was 2 cents lower than on Thursday, to close at $$128.43 as US$36.2 million entered the market and US$30.2 million left, of all currencies on Friday. On Thursday, inflows into the market generated US$44.3 million in all currencies, while US$38.9 million was sold to the public.
In USA dollar trading, inflows into the system ended at US$32.3 million versus US$30.9 million on Thursday while selling amounted to US$27 million compared to US$25.4 million on Thursday.
The week to Friday, netted US dollar equivalent of US$34.3 million while the in United States currency, the surplus ended at US$29.8 million. For the first full week in July, total inflows amounted to $214 million compared to US$192 million in June while outflows in July ended at US$180 versus US$170 million in June. Flows for the US dollar in July, ended with US$177.55 million flowing into the system and $147.7 million flowing out, compared to US$172.14 million and US$158.43 million respectively in June.
At the close, the Jamaican dollar value rose, with the selling rate of J$128.43 for one US dollar, down from J$128.45 it ended at on Thursday. Dealers bought the United States dollar at J$127.41 down from JS$127.49 previously.
The selling rate for the Canadian dollar climbed to J$99.79 compared to J$99.63 at the close on Thursday, while the British Pound cost less at the close on Friday with J$165.19 buying the British currency versus J$166.06 on Thursday and the Jamaican dollar gained value against the euro, with it taking J$148.09 to buy the European common currency on Friday versus Thursday’s rate of J$150.78.

 

J$ lose in FX trading – Thursday

Inflows of foreign exchange for the week to Thursday netted US dollar equivalent of $28 million while in United States currency, the surplus is US$24.5 million. Dealers bought the US dollar from a high of J$127.81 to a low of J$127.02, the average selling rate only moved between J$128.50 to $128.44 for the week so far.
On Thursday, dealers sold the US dollar for an average which was 1 cent higher than on Wednesday, to close at $$128.45, only the second day the rate moved up, in more than a month. On Thursday, US$44.3 million entered the market with US$38.9 million leaving, of all currencies. On Wednesday, inflows into the market generated just US$58.7 million in all currencies, while US$42.25 million was sold to the public.
At the close, the Jamaican dollar value slipped, with the selling rate of J$128.45 for one US dollar, down from J$128.44 it ended at on Wednesday. Dealers bought the United States dollar at J$127.49 down from JS$127.81 previously.
In USA dollar trading, inflows into the system ended at US$30.9 million versus US$46.87 million on Wednesday while selling amounted to only US$25.4 million compared to US$34.3 million on Wednesday.
The selling rate for the Canadian dollar climbed to J$99.63 compared to J$99.37 at the close on Wednesday, while the British Pound cost more at the close on Thursday with J$166.06 buying the British currency versus J$165.94 on Wednesday and the Jamaican dollar lost value against the euro, with it taking J$150.78 to buy the European common currency on Thursday versus Wednesday’s rate of J$147.8.

Big increase in FX trading – Wednesday

Trading levels, picked up sharply from the low levels on Tuesday, with US$58.7 million entering the market and US$42.25 million leaving. On Tuesday, inflows into the market generated just US$23.84 million in all currencies while US$22.52 million was sold to the public.
At the close of the market on Wednesday, the Jamaican dollar recorded moderate gains, with the selling rate of J$128.44 for one US dollar, down from J$128.46 it ended at on Tuesday. Dealers bought the United States dollar at J$127.81 up from JS$127.02.
In USA dollar trading, inflows into the system ended at US$46.87 million versus US$21.54 million on Tuesday while selling amounted to only US$34.3 million compared to US$20.36 million on Tuesday.
The selling rate for the Canadian dollar inched up to J$99.37 compared to J$98.01 at the close on Tuesday, while the British Pound cost less at the close on Wednesday with J$165.94 buying the British currency versus J$166.91 on Tuesday and the Jamaican dollar lost value against the euro, with it taking J$147.8 to buy the European common currency on Wednesday versus Tuesday’s rate of J$145.42.

 

Jam$ gains on reduced trading

The Jamaican dollar recorded further gains at the close of foreign exchange Tuesday with the selling rate of J$128.46 for one US dollar, down from J$128.50 it ended at on Monday.
Inflows into the local foreign exchange market generated just US$23.84 million in all currencies while US$22.52 million was sold to the public. In USA dollar trading, inflows into the system ended at US$21.54 million while selling amounted to only US$20.36 million. Inflows are well down on the US$61 million that entered the system last week Tuesday and outflows the US$46 million of all currencies then traded.
The selling rate for the Canadian dollar inched up to J$99.01 compared to J$98.94 at the close on Monday, while the British Pound cost more at the close on Tuesday with J$166.91 buying the British currency versus J$166.38 on Monday but the Jamaican dollar gained value against the euro, with it taking J$145.20 to buy the European common currency on Tuesday versus Monday’s rate of J$146.61.

Jam$ starts July with more gains

The Jamaican dollar recorded further gains on the first trading day of July and closed Monday with the selling rate of J$128.50 for one US dollar down from J$128.62 it ended June at. Inflows into the local foreign exchange market generated US$51 million in all currencies while US$46 million was sold to the public.
In USA dollar trading, inflows into the system ended at US$46 million while selling amounted to US$41 million. Inflows are slightly ahead of those for the first Monday in June but outflows are up a bit for the United States currency as well as for all currencies traded.
The selling rate for the Canadian dollar dipped to J$98.94 compared to J$99.39 at the close on Friday while the British Pound cost slightly less at the close on Friday with J$166.39 buying the British currency versus J$166.58 on Friday and the Jamaican dollar also gained value against the euro, with it taking J$ 146.61 to buy the European common currency on Friday versus Friday’s J$147.94.

Now J$1.52 cheaper for a US$ than May

The Jamaican dollar closed May at a selling rate of J$130.144 for one US dollar and ended June at J$128.62, $1.52 improvement in June. The closing rate is lowest for the month as the local foreign exchange market generated US$51 million more inflows than the amounts sold to the public.
Net total foreign exchange inflows into the system in June ended at US$59 million but US$70 million excluding the first two days which were the last two days of the first week of the month.
On Friday authorised and cambio dealers bought US$5 million more than they sold of all currencies and just US$3 million. A total of US$48 million of all currencies was bought and US$43 was sold while in US dollars trading US$35 million was bought and US$32 million was sold. For the week, total Inflows amounted to US$263 million, the most for any week in June, with the prior week being the next highest, with US$217 million.
Inflows of United States dollars reached US$36.58 million and selling $46.69 million on Friday. Overall foreign exchange of all currencies entering the market totaled the equivalent of US$45.3 million with US$53.2 million sold.
The selling rate for the Canadian dollar rose to J$99.39 compared to J$99.07 at the close on Thursday while the British Pound cost slightly more at the close on Thursday with J$166.58 buying the British currency versus J$165.40 on Thursday and the Jamaican dollar lost value against the euro, with it taking J$147.94 to buy the European common currency on Friday versus Thursday’s J$146.66.
July is one of the best months for inflows of foreign exchange, and that should result in the local currency recording further gains, with the surplus for the month likely to be higher than for June.

Jamaican dollar records more gains

The Jamaican dollar gained more ground versus the United States dollar on Monday with the selling rate dipped to J$128.89 to US$1 as US dollar inflows reached US$45.15 million and selling accounted for $39.14.
Inflows were just US$1 less than entered the market on Monday June 19. Overall, total foreign exchange of all currencies entering the market totaled US$50.79 million with US$42.2 million sold.
The buying rate for the US dollar fell to JS$128 from $128.15 at the end of trading on Friday.
The selling rate for the Canadian dollar declined to J$97.32 compared to J$97.83 at the close on Friday while the British Pound cost more at the close on Monday with J$163.71 buying the British currency versus J$162.63 on Friday and the Jamaican dollar gained value against the euro it taking J$144.89 to buy the European common currency on Monday versus Friday’s J$145.84.

Jamaican dollar gains value

Up to the end of foreign exchange trading on Monday, Jamaica enjoyed a surplus of US$157 million for January. On Monday the central bank reported net inflows US$3.9 million with the selling rates for the main currencies for the Jamaican dollar gaining but for the euro.
At the close of the market, dealers bought the equivalent of US$39,284,459 of all currencies and sold just US$35,398,981, compared to US$50,312,663 purchased and US$32,969,840 sold on Friday.
In US dollar trading, dealers bought US$35,900,623 compared to US$47,964,301 on Friday. The buying rate for the US dollar fell 33 cents to close at $127.52. A total of US$33,452,927 was sold versus US$32,074,678 on Friday, with the selling rate falling by a much smaller level than for purchases with a fall of 7 cents to $128.35. The Canadian dollar buying rate fell 87 cents to $93.98, with dealers buying C$1,471,931 and selling C$964,733 at an average rate that lost 15 cents to end at $97.75. The average rate for buying the British Pound fell 31 cents to $158.02 for the purchase of £1,694,767 while £852,079 was sold with a decline of 60 cents, to end at $159.90.
At the end of trading on Monday, dealers sold €124,122, with the selling rate for the Euro, closing with a gain of 6 cents to $136.91, according to data from Bank of Jamaica. Dealers purchased €173,210 of the European common currency at $136.85 after rising $2.47. The US dollar equivalent of other currencies traded, amounts to US$21,471 being bought and selling of US$17,304.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Monday, include a drop in the lowest selling rate of the US dollar by $1.35 to $121.65. The highest buying rate for the British Pound fell $2.62 to $161.20 while the lowest selling rate rose $3 to $155. The highest selling rate for the Euro rose $6.70 to $146.30 and the lowest selling rate rose $2 to $132.

Healthy net FX inflows continue

Up to the end of foreign exchange trading on Friday, Jamaica enjoyed a surplus of US$153 million for January. On Friday the central bank reported net inflows US$17 million with the selling rates for the main currencies for the Jamaican dollar gaining but for the Canadian dollar.
At the close of the market, dealers bought the equivalent of US$50,312,663 of all currencies and sold just US$32,969,840, compared to US$40,366,101 purchased and US$34,607,120 sold on Thursday.
In US dollar trading, dealers bought US$47,964,301 compared to US$37,146,996 on Thursday. The buying rate for the US dollar fell 10 cents to close at $127.85. A total of US$32,074,678 was sold versus US$33,530,844 on Thursday, with the selling rate falling by 13 cents to $128.42. The Canadian dollar buying rate fell 29 cents to $94.85, with dealers buying C$1,110,230 and selling C$586,246 at an average rate that climbed 37 cents to end at $97.90. The average rate for buying the British Pound rose 93 cents to $158.33 for the purchase of £1,088,337 while £241,103 was sold with a decline of 94 cents, to end at $160.50.
At the end of trading on Friday, dealers sold €135,899, with the selling rate for the Euro, closing with a fall of $1.63 to $136.85, according to data from Bank of Jamaica. Dealers purchased €153,437 of the European common currency at $133.18 after rising $2.70. The US dollar equivalent of other currencies traded, amounts to US$17,035 being bought and selling of US$2,116.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Friday, include a jump in the lowest selling rate of the US dollar by $19.27 to $123. The highest buying rate for the British Pound jumped $1.82 to $163.82 while the lowest selling rate dropped $3.50 to $152. The highest buying rate for the Euro fell $4.47 to close at $135.30, the highest selling rate fell $6.70 to $139.60 and the lowest selling rate lost $3 to $130.

Jamaican$ made gains on Monday

On Monday the Jamaica’s central bank reported net inflows US$13 million with the buying and selling rates for the main currencies for the Jamaican dollar gaining but for the euro.
At the close of the market, dealers bought the equivalent of US$46,846,024 of all currencies and sold US$33,710,044, compared to US$73,405,937 purchased and US$70,539,453 sold on Friday.
In US dollar trading, dealers bought US$41,767,700 compared to US$70,170,675 on Friday. The buying rate for the US dollar fell 57 cents to close at $127.52. A total of US$31,452,380 was sold versus US$69,102,218 on Friday, with the selling rate falling by 11 cents to $128.44. The Canadian dollar buying rate fell 36 cents to $93.18, with dealers buying C$2,332,284 and selling C$1,056,715 at an average rate that slipped 41 cents to end at $95.89. The average rate for buying the British Pound declined 99 cents to $154.85 for the purchase of £2,235,899 while £939,607 was sold with a decline of 47 cents to end at $156.46.
At the end of trading on Monday, dealers sold €287,843, with the selling rate for the Euro, closing with a rise of 3 cents to $135.18, according to data from Bank of Jamaica. Dealers purchased €596,051 of the European common currency at $133.20 after rising $3.78. The US dollar equivalent of other currencies traded, amounts to US$36,122 being bought and selling of US$21,146.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Monday, include a fall in the lowest selling rate of the US dollar by $16.88 to $103.12. A fall of $3.10 in the highest buying rate for the Canadian dollar to end at $96.90 while the lowest selling rate declined by $2.30 to $90. The lowest selling rate for the British Pound dropped $3 to $150.50 while the highest buying rate for the Euro put on $6.70 to close at $140 and the lowest selling rate lost $3 to $126.80.