The Jamaican foreign exchange market trading activity on the final Monday in 2015, fell well below Thursday’s levels with dealers buying almost $11 million less than they sold, as the value of the local currency slipping further against the US dollar. The inflows of funds into the market were unusually low for this time of the year, the closure of some businesses for the holiday may account for it.
Dealers bought the equivalent of US$31,609,960 and sold US$32,521,826, compared with US$34,740,726 and US$44,288,308 respectively on Thursday.
Sale of US dollars , exceeded the amount dealers bought by US$2.7 million. Dealers bought US$28,536,776 compared to US$32,213,491 on Thursday. The buying rate for the US dollar fell 25 cents to $119.45. A total of US$31,277,510 was sold versus US$42,468,505 on Thursday as the selling rate rose 7 cent to $120.42. The Canadian dollar buying rate fell by 37 cents to end at $82.75 with dealers buying C$1,131,418 and selling C$1,198,716, at an average rate that rose 63 cents to $87.01. The rate for buying the British Pound climbed by $1.03 to $176.48 for the purchase of £1,470,687, while only £150,953 was sold, with the rate falling 89 cents to $177.24. At the end of trading, it took J$131.88 to purchase the Euro, for a rise of 96 cents from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.21, rising by 80 cents from Thursday’s rate. The US dollar equivalent of other currencies traded, amounts to US$116,372 being bought, while US$156,024 was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 5 cents to $120.70, the lowest buying, the highest and lowest selling rates were unchanged at $98.70, $126.47 and $116, respectively. The highest buying rate for the Canadian dollar dropped $1.75 to $86.45, the lowest buying rate fell 20 cents to $68.61. The highest and lowest selling rates remained at $90 and $80.50 respectively. The highest buying rate for the British Pound, jumped $4.10 to end at $182.80. The lowest buying, the highest and the lowest selling rates were unchanged at $142.84, $184.15 and $170.70 respectively.
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Flows into the Jamaican foreign exchange market on Thursday fell well below Wednesday’s levels with dealers buying almost $10 million less than they sold with the value of the local currency slipping just a cent against the US dollar.
Dealers bought the equivalent of US$34,740,726 and sold US$44,288,308, compared with US$56,579,543 and US$48,690,822 respectively on Wednesday.
Sale of US dollars , exceeded the amount sold by dealers by US$10 million. Dealers bought US$32,213,491 compared to US$52,781,867 on Wednesday. The buying rate for the US dollar fell 13 cents to $119.70. A total of US$42,468,505 was sold versus US$46,420,126 on Wednesday as the selling rate rose 1 cent to $120.35. The Canadian dollar buying rate fell by 1 cent to end at $83.12 with dealers buying C$1,146,311 and selling C$1,102,909, at an average rate that rose $1.65 to $86.38. The rate for buying the British Pound climbed by 47 cents to $175.45 for the purchase of £927,856, while £587,131 was sold, with the rate putting on 67 cents to $178.14. At the end of trading, it took J$130.92 to purchase the Euro, for a fall of $1.05 from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.41 for a decline of $1.03 from Wednesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$371,230 being bought, while US$159,109 was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 20 cents to $120.75, the lowest buying rate held at $98.70, the highest selling rate fell 22 cents to $126.47 and lowest selling rates fell $1 to end at $116. The highest buying rate for the Canadian dollar rose $1.20 to $88.20, the lowest buying rate remained at $68.81, the highest selling rate ended 10 cents lower at $90 and the lowest selling rate fell $1.50 to end at $80.50. The highest buying rate for the British Pound, slipped 30 cents to end at $178.70. The lowest buying rate was unchanged at $142.84, while the highest selling rate jumped $1.45 to end at $184.15 and the lowest selling rate rose by 20 cents to $170.70.

Flows into the Jamaican foreign exchange market started the week on a strong note with dealers buying almost $67 million or $13 million than they sold, bringing the total surplus along with that of the week ending December 18, to US$26 million as the Jamaican dollar made a small recovery against the US dollar.
Dealers actually bought the equivalent of US$66,694,884 and sold US$53,329,088, compared with US$48,985,627 and US$38,223,472 respectively on Friday.
Purchases of US dollars , exceeded the amount sold by dealers by US$11.5 million with dealers buying US$62,348,278 compared to US$45,286,649 on Friday. The buying rate for the US dollar slipped by 16 cents to $119.73. A total of US$50,843,441 was sold versus US$36,755,007 on Friday, the selling rate fell by 3 cents to $120.34. The Canadian dollar buying rate rose 30 cents to end at $83.67 with dealers buying C$2,180,609 and selling C$1,455,256, at an average rate that climbed 25 cents to $85.54. The rate for buying the British Pound declined $2.83 to $175.59 for the purchase of £1,775,301, while £708,226 was sold, with the rate rising 41 cents to $177.54. At the end of trading, it took J$130.53 to purchase the Euro, for a rise of 17 cents from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.89 for a gain of 17 cents from Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$219,141 being bought, while US$406,451 was sold.
Highs & Lows| The highest buying rate for the US dollar, climbed $1.88 to $122, the lowest buying rate rose 29 cents to $98.86, the highest selling rate gained 38 cents to $126.69 and lowest selling rate was up 21 cents to $98.78. The highest buying rate for the Canadian dollar dropped $3.20 to $86.55, the lowest buying rate declined $3.16 to $68.72, the highest selling rate dipped $2.66 to $90 and the lowest selling rate dipped $4 to $82. The highest buying rate for the British Pound, fell $3 to end at $179. The lowest buying rate lost $2.07 to $143.76, while the highest selling rate fell 31 cents to end at $185.32 and the lowest selling rate dipped $4 to $172.

Flows into the Jamaican foreign exchange market remains elevated at the close of the week as dealers bought $10.8 million than they sold. For the week ending December 18, total foreign currencies bought exceeded the amounts sold by US$13 million.
Dealers bought the equivalent of US$48,985,627 and sold US$38,223,472, compared with US$42,340,656 and US$36,886,077 respectively on Thursday.
Purchase of US dollars , exceeded the amount sold by dealers by US$8.5 million with dealers buying US$45,286,649 compared to US$38,568,833 on Thursday. The buying rate for the US dollar rose 5 cents to $119.89. A total of US$36,755,007 was sold versus US$33,479,725 on Thursday, the selling rate moved up by 5 cents to $120.37. < The Canadian dollar buying rate dropped $1.70 to end at $83.37 with dealers buying C$1,240,010 and selling C$967,704, at an average rate that lost $1.14 to $85.29. a href=”http://icinsider.com/wp-content/uploads/2015/12/FX-trade-sum-18-12-15.png”>The rate for buying the British Pound climbed $2.88 to $178.42 for the purchase of £1,607,390, while £395,048 was sold, with the rate falling 51 cents to $177.13. At the end of trading, it took J$130.36 to purchase the Euro, for a fall of $1.37 from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.89 for a decline of $1.13 from Thursday’s rate. The US dollar equivalent of other currencies traded, amounts to US$444,482 being bought, while US$201,416 was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 43 cents to $120.12, the lowest buying rate dropped 29 cents to $98.57, the highest selling rate slipped 38 cents to $126.31 and lowest selling rate was down 21 cents to $98.57. The highest buying rate for the Canadian dollar climbed $2.23 cents to $89.75, the lowest buying rate jumped $2.57 to $71.88, the highest selling rate dipped 29 cents to $92.66 and the lowest selling rate climbed $4 to $86. The highest buying rate for the British Pound, rose 93 cents to end at $182. The lowest buying rate gained $2.07 to $145.83, while the highest selling rate fell $1.87 to end at $185.63 and the lowest selling rate rose by $3 to $176.

Flows into the Jamaican foreign exchange market remains above the $40 million level as dealers bought the equivalent of US$40,443,682 and sold US$38,941,809, compared with US$43,117,589 and US$51,950,671 respectively on Tuesday.
Purchase of US dollars , was below the amount sold by dealers by just over US$1 million with dealers buying US$36,794,485 compared to US$36,930,693 on Tuesday. The buying rate for the US dollar rose 1 cent to $119.69. A total of US$37,917,698 was sold versus US$45,466,315 on Tuesday, the selling rate moved up 4 cents to $120.38. The Canadian dollar buying rate dropped $2.41 to end at $84.20 with dealers buying C$1,367,212 and selling C$607,368, at an average rate that dived $1.97 to $85.81. The rate for buying the British Pound rose 17 cents to $178.71 for the purchase of £1,716,642, while £310,227 was sold, with the rate falling $1.37 to $178.56. At the end of trading, it took J$131.43 to purchase the Euro, a fall of $1.21 from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.74 for a decline of $1.24 from Tuesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$124,217 being bought, while US$130,987 was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 40 cents to $120.55, the lowest buying rate was unchanged at $98.78, the highest selling rate rose 5 cents to $126.63 and lowest selling rate rose 8 cents to $98.78. The highest buying rate for the Canadian dollar fell $1.40 to $87.20, the lowest buying rate remained at $69.97, the highest selling rate fell 40 cents to $90.20 and the lowest selling rate slipped 50 cents $83. The highest buying rate for the British Pound, declined 40 cents to end at $181.60. The lowest buying rate gained 17 cents to $146.08, while the highest selling rate declined $2.43 to end at $185.68 and the lowest selling rate stayed at $174.