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.
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.
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.
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.
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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.
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.
of other currencies traded, amounts to US$21,471 being bought and selling of US$17,304.
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.
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.
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.
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.
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.
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.