A positive trend | The foreign exchange market saw more inflows on Monday than for a week ago but sales declined, leaving a greater level of net inflows into the system, than in the prior week. This positive development came from a 17 percent increase in US dollars bought by authorized dealers. They sold 8 percent less US dollars than for Monday last week while they bought 52 percent less pound sterling and 28 percent less Canadian dollars than for the same period. Buyers demanded 24 percent more sterling on Monday this week, than for last week, but 81 percent less Canadian dollars were sold this Monday.

The development on Monday continues a positive trend seen since last week Thursday when there was a $4 million net inflow for US dollar trades on each day.  On Monday, trading amounted to the equivalent of US$42.6 million of purchases, while US$34.75million was sold.

The exchange rate continued its slow appreciation, closing with an average selling rate for the US dollar at $99.36 to one US, while on Friday last it was J$99.47