Monday, 10th February 2014 | The Jamaica dollar regained some value against the USA and Canadian dollars but had mixed fortunes against the British Pound in today’s trading in the Forex market.

There was slightly more buying than selling of the various foreign currencies. The total value of all currencies bought amounted to the equivalent of US$38,550,609 with the equivalent of US$35,464,282 sold.

Dealers bought US dollars at 4 cents less than on Friday’s close to end at $107.04 as US$33,410,739 was purchased with US$32,551,751, sold at $107.77, for a decline of a cent. C$1,254,062 was bought with the rate falling by $1.11 to $95.26 and the selling rate fell by 59 cents to $97.73 with C$791,412 being sold. Dealers bought £2,160,428 with the rate falling 57 cents to $173.90 and sold £1,084,975 at $176.93, an increase of 58 cents. Other currencies bought amounted to US$514,075 and US$413,423 was sold.

Highs & Lows | The highest buying rate for the US dollar increased by 10 cents to $108.40 and the lowest buying and highest selling rates were unchanged at $87.68 and $110.25 respectively. Meanwhile the lowest selling rate fell by $16.38 to $87.67.

The Canadian dollar went as high as $98.30, a decline of 20 cents. The low went up 79 cents to $78.19. The highest selling rate eased by 16 cents to $99.84 and the low fell by 25 cents to $93.

The highest buying rate for the Pound amounted to $177.30, the same rate as Friday and the lowest buying rate closed at $100 for a huge drop of $40.93. The highest selling rate increased by 71 cents to close at $179.92 and the low increased by 85 cents to $170.65.

Friday, 31 January 2014 | The selling rate for the Jamaican dollar lost 28 cents to $107.75 as dealers sold US$21,895,645 on Friday on the ForEx market. Dealers bought US$25,844,982 at an average rate of $106.98 for a rise of 8 cents.

There was buying of C$2,903,880 as the rate climbed 52 cents to $96.27 and C$4,520,878 was sold at an average rate of $97.61, and rose by $1.11. More of the British Pound was bought than sold resulting in mixed rates as £1,800,400 was purchased at an average rate of $175.17, a fall of 81 cents and £1,211,560 was sold at $178.77 for a $1.47 increase.

Other currencies that were bought amounted the equivalent of just US$159,035 with US$276,147 sold. Overall there was buying of the equivalent of US$31,565,110 and equivalent of US$28,277,467 was sold.

Highs & Lows | The highest buying rate for the US dollar fell by 15 cents to $108.25, the lowest buying rate was unchanged at $87.68 and so were the highest selling rate of $112.35 and the low at $104.05.

The highest buying rate for the Canadian dollar fell $1.50 cents to end at $97, the lowest buying rate was gained 16 cents to end at $77.27. The highest selling rate was unchanged at $100 and the low was up by 10 cents to $93.10.

The rates for the British Pound were mixed. The highest buying rate unchanged at $178.50 and lowest buying rate went down by $3.53 to $143.18. The highest selling rate moved down by 26 cents to $181.12 while the lowest selling rate moved up by $2.5 to $172.50.

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Thursday, 30 January 2014 | The rate for the Jamaican dollar slipped by 11 cents against the US dollar as dealers bought US$27,351,446 at an average rate of $106.91 for a rise of 10 cents and sold US$27,496,495 at 11 cents more than on Wednesday.

The rate for the Canadian dollar climbed $1.11 to $95.75 as C$1,720,196 was bought and C$1,303,032 was sold at an average rate of $96.50, a fall of $1.14. There was buying of £1,956,646 at an average rate of $175.99, an increase of 45 cents and £1,249,474 was sold at $177.30 for a fall of 88 cents.

Other currencies that were bought amounted the equivalent of US$1,231,239 with US$1,489,659 being sold. Overall there was buying of the equivalent of US$33,344,310 and equivalent of US$32,217,463 was sold.

Highs & Lows | The highest buying rate for the US dollar fell by 15 cents to end at$108.25, while the others remained unchanged with the lowest buying closing at $87.68, the highest selling rate at $112.35 and the low at $104.05.

The highest buying rate for the Canadian dollar dropped $1.50 to end at $97, the lowest buying rate increased by 16 cents to end at $77.27 while the highest selling rate remained unchanged at $100 and the low ended up by 10 cents to $93.10.

The highest buying rate for the Pound remained at $178.50. The lowest buying rate went down by $3.53 to $143.18, the highest selling rate moved down by 26 cents to $181.12 while the lowest selling rate moved up by $2.50 to $172.50.

Friday, 24th January 2014 | Bank of Jamaica intervened in the foreign exchange market for the second day following Thursday’s intervention. In addition to the intervention by selling to the market, the central bank also placed fixed interest securities on the market to absorb unlimited amounts of local and United States currencies. The instruments include offers of BOJ-USD Certificate of Deposit (CD) 2016A for unlimited amounts at a fixed coupon of 4 percent per annum and a BOJ-USD CD 2018A at a fixed coupon of 5 percent per annum.

The local CD instruments have a tenure of 365-days. The initial coupon for the first three months at a GOJ Treasury Bill rate of 7.43 per cent, plus 0.25 percentage point and a CD instrument for 18-months and GOJ Treasury Bill rate of 7.43 per cent, plus 0.27 percentage point.

In actual trading in forex market, dealers bought a total of US$47,685,695 of all currencies traded and sold the equivalent of US$57,450,992. The heavy sales could be connected with the BOJ CD instruments. In the past when these instruments were offered there have been higher sales on the closing day of the offers.

Overall rates slipped across all currencies with the exception of a moderate increase for the selling rate for the British Pound. Authorised dealers bought US$44,391,119 as the rate declined by 8 cents to $106.83 and sold US$54,854,249 as the rate slipped by a cent to $107.18. There was buying of C$914,036, the rate declined by 45 cents to $94.80 and selling of C$480,326 at an average of $96.67 down by 42 cents.

Buying of £970,032 resulted in an average rate of $174.23, which was down by 48 cents and selling amounted to £580,135 at $177.84 each but at 23 cents higher than on Thursday.

Other currencies bought in the equivalent of US$901,412 and US$1,200,855 was sold.

Highs & Lows | The highest buying rate for the US dollar grew by 40 cents to end at $108.20, the lowest buying rate was up by 42 cents to $87.68. The highest selling rate closed unchanged at $110.25 and the low dropped by the same amount it went up by the day before, $10.07 to $87.26.

All the rates for the Canadian dollar fell at the end of trading with the highest buying rate falling 20 cents to end at $97 and the lowest buying rate ended down by $1.25 to $77.19. The highest selling rate was down $1 at $99 and the low fell by a dollar to $93.

The rates for the British Pound were mixed. The highest buying rate for the eased by 30 cents to $178.40 and the lowest buying rate went up 29 cents to $143.59. The highest selling rate fell 45 cents to $181.02 while the lowest selling rate of moved up by 35 cents to $173.

Thursday, 23th January 2014 | The selling rate for the US dollar remains above J$107 but the selling rate inched down a bit on Thursday while the Canadian dollar and the British Pound suffered declines on both the buying and selling rates against the Jamaican dollar.

Authorised dealers bought a total US$59,269,945 of all currencies and sold the equivalent of US$61,911,209. Our source indicates that the Bank of Jamaica intervened in the market by selling approximately US$10 million to dealers.

Authorised dealers bought US$56,481,104 in United States currency at $106.92 for an increase of 4 cents and sold US$59,940,115 as the average rate inched down a cent to $107.19. Dealers bought C$930,397, the rate fell by 50 cents to $95.25 and C$626,264 was sold with the rate falling 71 cents to $97.09. The British Pound was bought at an average rate of $174.71, a fall of $1.25 as £1,029,444 was purchased, and only £607,375 was sold for a decline of 40 cents at $177.61.

Other currencies bought amounted to US$277,711 with US$397,459 sold.

Highs & Lows | The highest buying rate for the US dollar fell by 55 cents to end at $107.80, the lowest buying rate was unchanged at $87.26. The highest selling rate closed at $110.25 for a 69 cents decrease and the low moved was up to $97.33 by $10.07

The highest buying rate for the Canadian dollar fell $1 to end at $97.20 and the lowest buying rate ended 54 cents more at $78.44. The highest selling rate was unchanged at $100 and the low was up by 15 cents to $94.

The highest buying rate for the British Pound eased by 90 cents to $178.70; the lowest buying rate fell $1.71 to $143.30. The highest selling rate of $181.47, up 92 cents, the lowest selling rate of moved up by $1.75 to $172.65.

Wednesday, 22nd January 2014 | The selling rate for the US dollar that crossed J$107 yesterday, inched up further today to hit $107.20, even as the amount sold was less than the amount bought by $6 million.

Authorised dealers bought a total US$45,461,292 over $2 million less than on Tuesday for all currencies and sold the equivalent of US$41,433,607 almost $10 million less than yesterday.

Authorised dealers bought US$42,535,467 in United States currency at $106.87 for an increase of 57 cents but only sold US$36,602,246 at an average rate of $107.20, an increase 10 cents. Dealers bought C$747,162, the rate fell by $1.06 to $95.75 and C$515,646 was sold as the rate decreased by 46 cents to $97.79. The British Pound was bought at an average rate of $175.97, an increase of $2.31 as £1,256,499 was purchased, and sold £2,544,655 for more at $178.02. Other currencies bought amounted to US$187,535 with US$135,244 sold.

Highs & Lows | The highest buying rate for the US dollar increased by 5 cents to end at $108.35, the lowest buying rate was unchanged at $87.26. The highest selling rate closed at $110.94 for a $1.21 increase and the low moved down to $87.26 by $1.12.

The highest buying rate for the Canadian dollar fell 45 cents to end at $98.20 and the lowest buying rate ended up declined by 45 cents $77.90. The highest selling rate and fell $3 to $100 and the low declined by 55 cents to $93.85.

The highest buying rate for the British Pound climbed by $2.10 to $179.60 and the lowest buying rate jumped $3.41 to $145.01. The highest selling rate of $180.55, up $1.42, the lowest selling rate of moved 30 cents to $170.90.

Tuesday, 21st January 2014 | The selling rate for the US dollar crossed J$107 today as a large pool of funds were sold. Buying of US dollars was less than the overall selling by more than US$3 million as dealers bought a total US$47,869,380 for all currencies and sold the equivalent of US$51,121,520.

Authorised dealers bought US$41,544,688 in United States currency at $106.30 for an increase of 36 cents and sold US$46,226,015 at an average rate of $107.10, a 20 cents increase. Dealers bought C$2,243,825 for a $1.11 increase to $96.81 and sold C$2,148,416 for an 84 cents increase to $98.25. The British Pound was bought at an average rate of $173.66, 19 cents down as £2,487,829 was purchased, and sold £1,667,592 for 28 more at $176.81. Other currencies bought amounted to US$217,091 with US$171,510 sold.

Highs & Lows | The highest buying rate for the US dollar increased by 40 cents to end at $108.30, the lowest buying rate was unchanged at $87.26. The highest selling rate closed at $109.73 for a $2.09 decrease and the low moved up to $88.38 by $1.12.

The highest buying rate for the Canadian dollar gained 35 cents to end at $98.65 and the lowest buying rate ended up increasing by 46 cents $78.31. The highest selling rate and was up $2 to 103 and the low rose by 30 cents to $94.40.

The highest buying rate for the British Pound slipped by 15 cents to $177.50. There were no change for lowest buying rate of $141.60, the highest selling rate of $179.13 or the lowest selling rate of $170.60.

Monday, 20th January 2014 | The level of buying foreign currencies fell to the equivalent of US$27,722,521 and the amount sold jumped to the equivalent of US$46,826,793 but all the spot rates for the three main currencies declined versus the Jamaican dollar but for the selling rate of the US dollar.

In individual currency trades, US$23,049,066 was bought by dealers for 30 cents less than on Friday at $105.95 but they sold over $20 million more than they bought at a rate that was 3 cents higher than on Friday to end at $106.90 as US$43,389,210 was sold.

The Canadian dollar lost value against the Jamaican dollar as the rate slipped by 14 cents to end at $95.70 with the purchase of $1,655,657 and selling C$936,737 at $97.41 for a 32 cent drop.

£1,748,278 was purchased at $173.85 each or 26 cents cheaper than on Friday and selling amounted to £1,444,590 at a rate that was 93 cents less to end at $176.52. Other currencies purchased amounted to the equivalent of US$309,237 with US$198,429 sold.

Highs & Lows | The highest buying rate for the US dollar increased by 5 cents to end at $107.90 and the lowest buying rate increased by 25 cents to close at $87.26. The highest selling rate closed at $111.82 for a $2.09 increase and the low fell to $87.26 and was off by $15.34.

The highest buying rate for the Canadian dollar fell by $6.75 to end at $98.30 but there was no change to the lowest buying rate of $77.85 or the highest selling rate of $101 but the low rose by 30 cents to $94.10.

The highest buying rate for the British pound was $177.65 for a 10 cents increase. The lowest buying rate climbed 79 cents to $141.60. The highest selling rate moved up by 36 cents to $179.13 and the low gained 95 cents to end at $170.60.