Dealers in Jamaica’s foreign currency market saw the equivalent of US$13 million more funds coming into the system than left, helping to drive the value of Jamaican dollar further upwards with the selling rates of the United States dollar dropping to J$128.37, down from J$128.43 on Friday.
Dealers bought the United States dollar at J$127.49 up from JS$127.41 previously.
The positive net inflows on Monday continue the trend set for the prior week with surplus inflows on each day.
Dealers purchased US$50.44 million and sold US$37.4 million, of all currencies on Monday. On Friday, inflows into the market generated US$36.2 million in all currencies, while US$30.2 million was sold to the public.
In USA dollar trading, inflows into the system ended at US$46.3 million versus US$32.3 million on Friday while selling amounted to US$34.8 million versus US$27 million on Friday.
The selling rate for the Canadian dollar rose to J$99.98 compared to J$99.79 at the close on Friday, while the British Pound cost less at the close on Monday, with J$163.85 buying the British currency versus J$165.19 on Friday and the Jamaican dollar gained value against the euro, with it taking J$146.69 to buy the European common currency on Monday versus Friday’s rate of J$148.09.
After slipping modestly against the US dollar on Thursday the Jamaican dollar resumes its more than one month revaluation again on Friday, as inflows of foreign exchange continues to exceed outflows at an increasing rate.
Flows for the US dollar in July, ended with US$177.55 million flowing into the system and $147.7 million flowing out, compared to US$172.14 million and US$158.43 million respectively in June.
Trading levels, picked up sharply from the low levels on Tuesday, with US$58.7 million entering the market and US$42.25 million leaving.
Up to the end of foreign exchange trading on Monday, Jamaica enjoyed a surplus of US$157 million for January. On Monday the central bank reported net inflows US$3.9 million with the selling rates for the main currencies for the Jamaican dollar gaining but for the euro.
a fall of 7 cents to $128.35. The Canadian dollar buying rate fell 87 cents to $93.98, with dealers buying C$1,471,931 and selling C$964,733 at an average rate that lost 15 cents to end at $97.75. The average rate for buying the British Pound fell 31 cents to $158.02 for the purchase of £1,694,767 while £852,079 was sold with a decline of 60 cents, to end at $159.90.
of other currencies traded, amounts to US$21,471 being bought and selling of US$17,304.
Up to the end of foreign exchange trading on Friday, Jamaica enjoyed a surplus of US$153 million for January. On Friday the central bank reported net inflows US$17 million with the selling rates for the main currencies for the Jamaican dollar gaining but for the Canadian dollar.
The Canadian dollar buying rate fell 29 cents to $94.85, with dealers buying C$1,110,230 and selling C$586,246 at an average rate that climbed 37 cents to end at $97.90. The average rate for buying the British Pound rose 93 cents to $158.33 for the purchase of £1,088,337 while £241,103 was sold with a decline of 94 cents, to end at $160.50.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Friday, include a jump in the lowest selling rate of the US dollar by $19.27 to $123. The highest buying rate for the British Pound jumped $1.82 to $163.82 while the lowest selling rate dropped $3.50 to $152. The highest buying rate for the Euro fell $4.47 to close at $135.30, the highest selling rate fell $6.70 to $139.60 and the lowest selling rate lost $3 to $130.
On Monday the Jamaica’s central bank reported net inflows US$13 million with the buying and selling rates for the main currencies for the Jamaican dollar gaining but for the euro.
The Canadian dollar buying rate fell 36 cents to $93.18, with dealers buying C$2,332,284 and selling C$1,056,715 at an average rate that slipped 41 cents to end at $95.89. The average rate for buying the British Pound declined 99 cents to $154.85 for the purchase of £2,235,899 while £939,607 was sold with a decline of 47 cents to end at $156.46.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Monday, include a fall in the lowest selling rate of the US dollar by $16.88 to $103.12. A fall of $3.10 in the highest buying rate for the Canadian dollar to end at $96.90 while the lowest selling rate declined by $2.30 to $90. The lowest selling rate for the British Pound dropped $3 to $150.50 while the highest buying rate for the Euro put on $6.70 to close at $140 and the lowest selling rate lost $3 to $126.80.
On Friday the central bank reported net inflows US$2.9 million with the buying and selling rates for the main currencies for the Jamaican dollar being mixed.
The Canadian dollar buying rate fell $1.59 to $93.54, with dealers buying C$1,672,927 and selling C$680,212 at an average rate that slipped 41 cents to end at $96.30. The average rate for buying the British Pound climbed just 5 cents to $155.84 for the purchase of £1,529,299 while £360,627 was sold with a decline of 30 cents to end at $156.93.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Friday, include a rise in the lowest selling rate of the US dollar by $16.68 to $120. A rise of $1.50 in the highest buying rate for the Canadian dollar to end at $100 while the lowest selling rate grew $1.30 to $92.30. The highest buying rate for the British Pound dropped $1.80 to $158 and the lowest selling rate rose $2.50 to $153.50, while the lowest selling rate for the Euro put on $3.55 to close at $129.80.
On Thursday the central bank reported net outflows US$2.7 million and an across the board fall in the value for the Jamaican dollar except for a gain in the selling rate of the euro.
The Canadian dollar buying rate climbed $3.03 to $95.13, with dealers buying C$3,819,861 and selling C$2,730,497 at an average rate that rose $1.61 to end at $96.71. The average rate for buying the British Pound climbed $1.03 to $155.79 for the purchase of £2,574,231 while £1,415,888 was sold with a rise of 60 cents to end at $157.23.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Thursday, include a rise of $1 in the highest buying rate for the Canadian dollar to end at $98.50. The highest buying rate for the British Pound dropped $2.39 to $159.80, the lowest selling rate fell $1.20 to $151, while the highest buying rate for the Euro added $1 to end at $133, the highest selling rate declined by $1.30 to end at $140.40 and the lowest selling rate put on $12.11 to close at $126.25.