Friday, 26th July 2013 | In today’s forex trading, the equivalent of US$31.25 million amount of currency was purchased and $27.34 million was sold.

The Jamaican dollar closed at a selling rate of $101.85 to the US dollar, 2 cents more than on Thursday and authorised dealers purchased the US dollar for 100.30, up 10 cents on Thursday’s close. The Canadian dollar closed at a selling rate of $99.84, up $1.10 and authorised dealers purchased the Canadian dollar for $98.22, $1.58 more than the previous close.  The Pound sterling closed at a selling rate of J$156.58, which was 59 cents greater than the closing rate on Thursday while buying took place at 49 cents less at J$154.40.

Highest rates traded in buying the currencies were for the US dollar $102.15, down 20 cents, Canadian $100, down 46 cents, the Pound sterling $ 156.77 up 37 cents, while the lowest buying rates were the US dollar $83.50 the same rate as the day before, Canadian $79.60, up 33 cents and the Pound sterling declined by 41 cents to $125.83.

Highest selling rates were for the US dollar $107 no change, Canadian $102.67 no change, Pound sterling $ 160.07, an increase of $1.35 and the lowest selling rates were the US dollar $98.50 up $15, Canadian $94.50 down $1 and the Pound sterling $ 151.50 up $4.75.

Thursday, 25th July 2013 | In Thursday’s forex trading, buying of foreign currencies exceeded selling by nearly US$7 million compared with nearly US$3 million on Wednesday. Authorised dealers purchased the equivalent of US$35.8 million and sold US$28.98.

They purchased US$30.96 million in US dollar currency and sold US$25.7 million with the average rate edging up slightly by a few cents for both the buying and selling rates. The Canadian dollar rates that were up on Wednesday, put on 97 cents on the buying rate and 48 cents on the selling rate and saw $1.75 and $1 being slashed off the rates respectively. The average rate for the Pound put on $1.36 for the buying rate and lost 32 cents for the selling rate.

The highest and lowest rates were relatively stable except for the Pound where the highest buying rate fell by 30 cents to close at $156.40, the highest selling rate fell 79 cents to close at $158.72 and the lowest selling rate dropped by $5.25 to $146.75.

Tuesday, 23 July 2013 | The level of trading in the forex market returned to normal as purchases accounted for US$30 million and amount sold was US$32 million for all currencies traded. In the day’s trading, more Pounds were sold than purchased as purchases amounted to £1.2 million versus £1.922 million sold, an equal amount of Canadian dollars were sold and bought but there was a moderate amount of US dollar sold over the amount bought.

The US dollar buying rate fell an average of 28 cents and the selling rate inched up by 3 cents. The buying rate for the US dollar climbed $1.47 to close at $97.42 and the selling rate moved up by 96 cents to $99.35. The British Pound gained 95 cents buying to reach $153.71 and selling took place for 62 cents more than on Monday, at $156.30.

The highest buying rates all fell back on the day between 18 cents in the case of the US dollar to $1.85 for the Pound. Only the Canadian dollar lowest buying rate changed, it increased by 42 cents to close at $79.35. All the highest buying rates increased from a low of 21 cents for the US dollar to a high of $1.17 for the Pound. There was no change to the lowest selling rate for the US dollar. The Canadian dollar climbed 45 cents to $95.50 and the Pound by $1.35 to $151.30.

Monday, 22nd July 2013 | Jamaica’s central bank signaled to the forex market today “not so fast” in the movement of the Jamaican dollar against its main intervention currency, the US dollar. Our source indicates that the central bank did selective selling to some financial institutions, as such, not all dealers got the central bank’s funds. We were unable to get the amount that BOJ sold to the system but data of past trading Mondays suggest that the figure could be around US$15-20 million.

Since the start of July the amounts bought on Mondays give some indication of the likely amount sold into the system. The July purchases are as follows: Monday July 1 a little more than US$38 million; Monday July 8 nearly US$39 million and Monday July 15 the amount was less at US$30.5 million. In today’s trading, purchases amounted to US$60.4 while selling took place for $57.6 million as the US dollar moved up 19 cents for the buying rate to close at $101.44 and the selling rate slipped back by 19 cents to close at $101.81.

The central bank’s intervention may have arisen from last week’s trading in which US dollars purchased exceeded the amount sold by nearly US$10 million, while the rate kept on slipping. This would have sent a signal that traders may be building up a long position in the currency, even as the actual sale of US dollars was US$4.5 million more than the amount purchased in the week ending July 12th, which was less than the net position last week. These figures are for the US dollar currency alone and ignores surpluses of Pounds and Canadian Dollars that were purchased and may have been converted to US dollars, the currency in greatest demand.

There was buying of C$1.065 million at an average rate of $95.95 at 24 cents less than on Friday but the average selling rate rose to $98.38, up by 33 cents as C$727,200 was sold. The Pound lost value but moderately, on both ends, to close at $152.76 buying and $155.68 selling as dealers bought £2 million and sold just £460,000.

Highest & lowest rates | Except for the highest buying rate for the US dollar which just barely inched up, there were no other changes in the rates for US currency. The Canadian dollar saw dealers spending $2.10 more when buying at the highest levels and 25 cents more at the lowest buying rate. For the sell side, the highest rate put on 32 cents and the lowest 25 cents. The Pound was bought at $2.80 more for the highest buying rate and 66 cents more on the lowest rate for selling. $3.47 was added to the highest rate and just 25 cents on the lowest rate.

Friday, 19th July 2013 | In Friday’s forex trading the Pound recovered just about all that it lost on Thursday for the lowest selling rate as it put on $44.70 to close at $149.70 but the highest selling rate slipped by $2.93 to $158.53. The highest and lowest buy rates moved up by 55 cents and 67 cents respectively. The British Pound climbed 13 cents to $152.95 buying and the average selling rate moved up by 72 cents to $155.79.

The average rates moved up for the buying and selling of the US dollar by 14 cents and 17 cents respectively as the buying rate closed at $101.24 and the selling rate to $101.995. The buying rate for the Canadian dollar moved up by 55 cents to $96.19 but the selling rate declined by 17 cents to $98.06.

There was not much change to the highest and lowest rates for the US dollar with only the highest buying rate changing with a 5 cent decline to $102.50. The Canadian dollar climbed 9 cents and 8 cents respectively for the highest buying and lowest buying rates lost 5 cents in the highest selling rate and moved up 80 cents for the lowest selling rate which closed at $94.80.

A total of US$32.19 million was purchased and US$31.2 million sold for all currencies traded. US dollar buying was US$2 million more than the amount sold but there was more selling of Pound Sterling than purchases, the first this has happened for some time.

Thursday, 18th July 2013 | While the average buying and selling rates have been fluctuating around the same levels for some time the volatility in the highest and lowest rates have been much different.

In Thursday’s trading, while the Pound selling rate moved up by 49 cents over Wednesday average traded rate and the average buying rate moved up 90 cents, the lowest selling rate fell precipitously by $44.80 to $105. The highest buying rate on the other hand, fell 90 cents with little change to the lowest buying rate but the highest selling rate moved up $3.46 to $161.46.

The lowest selling rate for the US dollar has been moving between $83 and $100 for some time but in today’s trade it fell back by $14.50 closing at $83.50. There was virtually no change in the highest buying and selling rate as well as the highest buying rate for the US dollar. In fact the average rates for the US dollar are virtually exactly where they were on Wednesday. The various rates for the Canadian dollar were up and down at the end of the day. By day’s end US$24.3 million was purchased just a bit less than the US$25.2 million.

Wednesday, 17th July 2013 | Rates for buying and selling rates for the US dollar hardly changed on Wednesday as dealers bought US$22.9 million and sold US$23.6 million on a day when the overall purchases of all foreign currencies amounted to US$25.1 million and selling amounted to US$ 25.33 million. The highest and lowest rates for the US dollar remained fairly stable with no changes to the highest selling rate and the lowest buying rate.

The Jamaican dollar closed at a selling rate of $101.81 to the US dollar and authorised dealers purchased the US dollar for 101.07.

The Canadian dollar closed at a selling rate of $97.98 some 28 cents less than on Tuesday. Authorised dealers purchased the Maple leaf currency for $95.90, up 15 cents for the day. The Pound sterling closed at a selling rate of $154.58 to a pound, slipping 39 cents while buying took place by authorised dealers at $151.92, down $1.35 at the end of trading.

Highest rates traded in buying currencies were for the US dollar $102.50, for the Canadian $98.70 and for the Pound sterling $156 while the lowest buying rates were the US dollar $83.50, for the Canadian $78.60 and the Pound sterling $124.29.

Highest rates traded in selling the currencies were for the US dollar $107 no change from the day before, Canadian $101.33 down 16 cents, Pound sterling $158 a decline of $2.23 and the lowest selling rates were the US dollar $98 up 20 cents, Canadian $94.70 an increase of $1.20 and the Pound sterling $ 149.80 up 60 cents.