Tuesday, 16th July 2013 | The British Pound made a big move on Tuesday as it closed up by $2.74 on average when dealers bought the currency, pushing the buying rate at the end of trading to $153.27. The selling rate climbed by $1.30 to close the day at $154.97. Authorised dealers bought £2.88 million and sold just £1.47 million. The Pound was bought as high as$156.72 which was $2.82 higher than on Monday and as low as $126.33 or $2 less than Monday’s low. Selling of the British currency took place as high as $160.23, just 6 cents less than Monday and as low as $149.20, the same as Monday. The major rate change for the Pound relates to an increase in the value of the Pound against the US dollar on Tuesday and could rise further on Wednesday as the published minutes coming out of the UK central bank’s meeting to discuss monetary policy helped pushed the British pound up against major currencies.

There was an 8 cent upward movement on both the average buying and selling rates for the US dollar. The highest and lowest buying rate for the US currency hardly changed while the highest selling rate slipped by 21 cents and the lowest climbed back by $14.30 to $97.80.  The amount of US dollar purchased amounted to US$25.37 million and US$21.98 million was sold.

The Canadian dollar closed at a selling rate of $98.26 down 36 cents from Monday and authorised dealers purchased the Canadian dollar for $95.75, which is 39 cents more than on Monday. The highest rate was $98.80, the same rate as the previous trade and lowest buying rate $78.73, just a 5 cent increase. Both the highest and lowest selling rates declined with the lowest down $1.20 to $93.50.

The total amount of currency traded was US$31.6 million while $26.5 million was sold.

Monday, 15th July 2013 | In today’s forex trading, the Jamaican dollar closed at a selling rate of $101.71 to the US dollar, down 9 cents and authorised dealers purchased the US dollar for $100.99, an increase of 22 cents. The Canadian dollar closed at a selling rate of $98.62, an increase of 47 cents. Authorised dealers purchased the Canadian dollar for $95.37, $1.21 less than on Friday. The Pound sterling closed at a selling rate of J$153.67 up 2 cents, while buying took place by authorised dealers at J$150.53 for a decline of 83 cents.

The total amount of currency bought was US$34.1 million while $29.74 million was sold. While there was US$5.4 million more US dollars purchased than sold, more Canadian dollars sold than was purchased as sales jumped to C$2.79 million versus only C$1.34 million bought.

There was little change in the highest and lowest rates for US dollar but the rate climbed by 50 cents for the highest buying rate which ended at $98.80 and 66 cents for the lowest buying rate which closed at $78.68. The highest selling rate for the Canadian dollar moved up by $1.02 in closing at $101.60 and the lowest selling rate rose by $1.20 to $94.70.

Highest rates traded in Pound sterling was $153.90 buying reflecting a 60 cents fall, while the buying rate declined by just 5 cent. The lowest selling rate climbed $1.40 to $149.20 and highest selling rates increased by $1.39 to $160.29.

Friday, 12th July 2013 | Buying of forex on Friday was greater than amounts sold by $3.5 million as $27 million in US dollar equivalents was purchased by authorised dealers, US$2.7 million more than on Thursday. The equivalent of US$23.5 million was sold to end users, slightly more than the US$23.3 million sold on Thursday. The amount of US dollar currency purchased, was US$22.4 million while US$21.5 million was sold. There was moderately more Canadian dollars and a lot more Pound Sterling purchased than sold. In fact £1.87 million was purchased and only £349,000 was sold.

The selling rate for the US dollar inched up 3 cents to close at $101.80. At the same time the buying rate edged up by 1 cent, closing at $100.97. The highest buying rate for the US dollar fell by 80 cents to close at $102.40. There was no change in the highest selling rate nor the lowest buying rate, but the lowest selling rate decreased by $15.55, the same as the increase the day before and fell back to $83.50.

The buying rate of the Canadian moved up by 9 cents to $96.57 and the selling rate moved up by 55 cents closing at $98.15. The highest buying rate for the Canadian dollar climbed by 15 cents to close at $98.30 and the highest selling rate remained as it was on Thursday. The lowest buying rate moved up by 8 cents to $78.02 and the lowest selling rate move up by 10 cents to close at $93.50.

The buying rate of the Pound fell by 37 cents on the day to $151.36 and the selling rate rose by 7 cents to close at $151.66. The highest buying rate for the British Pound increased by 50 cents to close at $154.50. The lowest buying rate increased by $1.46 to $124.38, the highest selling rate moved up by 43 cents to $158.90 and the lowest selling rates increased by $1.00 to $147.80.

July and August are months for increased inflows as the number of tourists into the country rise well above the numbers for May and June. The likely increased inflows could impact the rates.

Thursday, 11th July 2013 |  There was $24.3 million in US dollar equivalent purchased by authorised dealers on Thursday and they sold the equivalent of US$23.3 million to end users, well down on the US$31.6 million sold on Wednesday. The amount of US dollar currency purchased was US$20.2 million and US$19.6 million was sold. There was moderately more Canadian dollars and Pound Sterling purchased than sold.

The selling rate for the US dollar fell 2 cents from to close at $101.77. At the same time the buying rate edged down by 5 cents, closing at $100.95. The highest buying rate for the US dollar climbed by $1 to close at $103.20. There was no change in the highest selling rate nor the lowest buying rate, but the lowest selling rate increased by $15.55 to $99.05.

The US dollar fell against most currencies in light of the Fed in the USA indicating that they intent to keep interest rates low until possibly 2015. The change in value affected the conversion rates of the Jamaican currency against the Pound and the Canadian dollar in Thursday’s trading.

Buying of the Canadian jumped $2.04 to $96.48 and the selling rate moved up by 59 cents while closing at $97.59. The highest buying rate for the Canadian dollar climbed by 65 cents to close at $98.15 and the highest selling rate moved up 11 cents. The lowest buying rate remained the same as for Wednesday at $77.94 and the lowest selling rates move up by 40 cents to close at $93.40.

The buying rate of the Pound went up by $1.23 on the day to $151.73 and the selling rate rose by $1.69 cents to close at $151.89. The highest buying rate for the British Pound increased by $1.60 to close at $154, the lowest buying rate increased by 41 cents to $122.92. The highest selling rate moved down by $3.69 to $158.47 and the lowest selling rates decreased by $1.70 to $146.80.

Wednesday 10th July 2013 | There was $24.7 million in US dollar equivalent purchased by authorised dealers on Wednesday and they sold the equivalent of US$31.58 million to end users. The amount of US dollar currency purchased was less than the amount sold by US$7.2 million as US$22 million was purchased and US$29.3 million sold. There was moderately more Canadian dollars and Pound Sterling purchased than sold.

The selling rate for the US dollar fell 10 cents from Tuesday’s rate to close at $101.80, at the same time the buying rate edged up by 5 cents, closing at $101.00. The highest buying rate for the US dollar fell by $1 to close at $102.20. There was no change in the highest selling rate, while the lowest buying rate increased by 17 cents and the lowest selling rate increased by 83 cents to $83.50.

Buying of the Canadian went down by 47 cents to $94.45 and the selling rate fell by 15 cents while closing at $97.00. The highest buying rate for the Canadian dollar climbed by $1.05 to close at $97.50 and the highest selling rate moved up 16 cents. The lowest buying rate remained the same as for Tuesday at $93.

The buying rate of the Pound went down by 31 cents on the day to $150.50 and the selling rose by 53 cents to close at $151.89. The highest buying rate for the British Pound fell $1.60 to close at $152.40. The highest selling rate moved down by $3.85 to $154.79 and the lowest selling rates increased by 95 cents to $148.50.

Tuesday, 9th July 2013 | There was $30.17 million in US dollar equivalents purchased by authorised dealers on Tuesday and they sold the equivalent of US$33 million to end users. The amount of US dollar currency purchased was less than the amount sold by US$3.5 million as only US$26.11 million was purchased.

The selling rate for the US dollar climbed 18 cents on Tuesday to close at $101.90. At the same time the buying rate slipped back by 10 cents closing at $101.95, yet the highest buying rate for the US dollar climbed by 40 cents to close at 103.20 and the highest selling rate moved up by 21 cents but there were no changes to the lowest buying and selling rates.

Buying of the Canadian went up by 25 cents to $94.92 and the selling climbed 93 cents while closing at $97.15. The highest buying rate for the Canadian dollar climbed by a mere 5 cents to close at $96.45 and the highest selling rate moved up down by 22 cents and the lowest buying rate moved up by $1.

Buying of the Pound went up by $1.42 to $150.81 and the selling fell by $1.07 closing at $151.36. The highest buying rate for the British Pound fell 70 cents to close at $154 and the highest selling rate moved down by $1.27 to $158.64 and the lowest selling rates increased by 55 cents to $147.55.

Monday, 8th July 2013 | The Pound sterling and the Canadian dollar were mostly cheaper today versus the Jamaican dollar and the US dollar was moderately more expensive as a total amount of currencies traded was the equivalent of US$42.5 million buying while $38.6 million was sold.

In today’s Forex trading, the Jamaican dollar closed at a selling rate of $101.72 to the US dollar as the currency slowly drifts upwards, this time by 7 cents, and authorised dealers purchased the US dollar for 101.05, more than 15 cents than they did on Friday. The Canadian dollar closed at a selling rate of $96.22 down by $1.08 and authorised dealers purchased the Canadian dollar for $94.67 less than Friday by $1.28. The Pound sterling closed at a selling rate of J$152.43, an insignificant 9 cents more than Fridays close, while buying took place by authorised dealers at J$149.39, a significant $1.31 below Fridays close.

Highest rates traded in buying the currencies: For the US dollar $102.80 up 50 cents, Canadian $96.40 down 45 cents, Pound sterling $ 154.70 up 10 cents. The lowest buying rates were the US dollar $83.50 up 42 cents, Canadian $77.27 down 71 cents, Pound sterling $122.63 down $1.41.

Highest rates traded in selling the currencies:  For the US dollar $107 no change, Canadian $100.53 no change from Friday, Pound sterling $159.91 up $1.91. The lowest selling rates were the US dollar $82.67 up 42 cents, Canadian $92 down $1.95, Pound sterling $ 147 down $1.

Friday, 5th July 2013 | The Pound got hit today again as it did yesterday when it fell by $1.60 for the buying rate and for the selling $1.21 on top of the losses in Thursday’s trade when it fell $1.38 for the buying rates and was down $1.07 for the selling rate. A major reason for the decline is a sharp fall in the value for the Pound against the USA dollar which surged today against most currencies with the release of better than expected payroll employment numbers in the US economy. The highest and lowest rates for the British currency all fell with the highest selling rate dropping all of $3.57 and the lowest by 50 cents. The highest buying rate was down by 70 cents and the lowest by $1.29.

The US dollar slipped by 3 cents on the selling side and it gained 27 cents on the buying rate while the Canadian moved up sharply from Thursday’s prices closing at $1.11 up on the buying rate and 71 cents up on the selling rate. With the exception of a 85 cent s drop on the highest buying rate all the other highest and lowest rates moved up for the Maple leaf currency. The US dollar moved up for all the highest and lowest rates except there was no change to the lowest selling rate.

The selling rates for the US dollar closed at $101.65, the Canadian $97.31 and the Pound $152.34.

It was a pretty big day as US$43 million was sold for the collective currencies and buying took place for US$33.99 million.