Trading in the foreign exchange market resulted in the Jamaican dollar losing value against the three major currencies it is normally exchanged with. The market closed with dealers buying the equivalent of US$35,396,058 and selling US$38,476,966, in contrast to US$43,966,113 purchased and US$40,723,813 sold on Monday.
In US dollars trading, dealers bought US$31,090,615 compared to US$41,142,103 on Monday, as the buying rate for the US dollar added 1 cent to close at $121.34. A total of US$35,644,274 was sold versus US$39,587,492 on 
Monday, the selling rate gained 2 cents to $122.04. The Canadian dollar buying rate climbed $2.73 to end at $92.55 with dealers buying C$1,726,695 and selling C$1,936,183, at an average rate that rose $2.57 to $94.39. The rate for buying the British Pound rose $3.01 to $171.49 for the purchase of £2,034,614, while £764,663 was sold, as the rate jumped $2.79 to $172.40. At the end of trading, the selling rate for Euro, rose 37 cents to close at J$139.63, from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$136.75 for a rise of 42 cents on Monday’s rate. The US dollar equivalent of other currencies traded, amounts to US$112,783 being bought, while US$254,920 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at on Tuesday are, a rise of $18.22 in the lowest selling rate of the US dollar to $118, a rise of $1.85 in the highest buying rate of the Canadian dollar to $96.15, a $1.08 rise in the lowest buying rate to $74.70 with highest selling rate gaining $1.04 to $97.20 and the lowest selling rate climbing by $1 to $89.30. The lowest selling rate for the British Pound rose $1.70 to $139.23, while the highest selling rate climbed $2.21 to end at $181.17 and the lowest selling rate gained $2.60 to end at $166.20.
Jamaican$ loses ground on Tuesday
Jamaican$ makes gains on Monday
Trading in the foreign exchange market resulted in the Jamaican dollar gaining value against the three major currencies it is normally exchanged with. The market closed with dealers buying the equivalent of US$43,966,113 and selling US$40,723,813, in contrast to US$30,677,839 purchased and US$37,524,758 sold on Friday.
In US dollars trading, dealers bought US$41,142,103 compared to US$27,717,738 on Friday, as the buying rate for the US dollar remained at $121.33. A total of US$39,587,492 was sold versus US$35,846,874 on Friday, the selling rate fell by 6 cents to $122.02.
The Canadian dollar buying rate declined 94 cents to end at $89.83 with dealers buying C$1,171,701 and selling C$538,658, at an average rate that declined $1.06 to $91.82. The rate for buying the British Pound rose 67 cents to $168.48 for the purchase of £1,191,516, while £286,641 was sold, as the rate fell 7 cents to $169.61. At the end of trading, the selling rate for Euro, rose 36 cents to close at J$139.26, from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$136.33 for a rise of 30 cents on Friday’s 
rate. The US dollar equivalent of other currencies traded, amounts to US$301,872 being bought, while US$332,567 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at on Monday are, a fall of $18.22 in the lowest selling rate of the US dollar to $99.78, a rise of $1.30 in the lowest selling rate of the Canadian dollar to $88.30. The highest selling rate for the British Pound rose $1.46 to $178.96, while the lowest selling rate dipped $1.70 to end at $163.50.
Scotia sees J$130 to US$ in 2017
After losing nearly 30% of its value since 2012, the Jamaican dollar (JMD) is expected to maintain a defensive tone against the US dollar (USD).
The value of the JMD will continue to be affected by weaker sentiment towards emerging markets as the US Fed gradually tightens monetary conditions, as well as by investors’ perceptions regarding the implementation of the austerity program under the four-year Extended Fund Facility (EFF) loan agreement with the IMF, a recent report released by the economic units of Canadian Scotia bank stated recently.
“ We forecast a further depreciation in the JMD from a year-end rate of 120 in 2015 to around 125 this year and 130 in 2017 per USD. Net international reserves stood at US$2.26 billion in February, equivalent to over 5 months of import coverage” Scotiabank Economics Report stated recently.
Neither forecast would represent major moves in the value of the currency percentage wise. IC Insider.com data suggests that the currency may well remain around current levels for a prolonged period, or head to around 125 with inflation for 2016 looking like it will be less than for 2015, with no new major taxes expected. The tax break for persons earning less than $1.5 million could have a moderating impact on wage settlements and inflation as well.
Jamaican$ loses ground – Friday
Trading in the foreign exchange market resulted in the Jamaican dollar losing value against the three major currencies it normally trades. The market closed with dealers buying the equivalent of US$30,677,839 and selling US$37,524,758, in contrast to US$29,004,952 purchased and US$30,796,524 sold on Thursday.
In US dollars trading, dealers bought US$27,717,738 compared to US$26,385,923 on Thursday, as the buying rate for the US dollar lost 1 cent to end at $121.33. A total of US$35,846,874 was sold versus US$29,540,365 on Thursday, the selling rate rose by 4 cents to $122.08. 
The Canadian dollar buying rate declined 8 cents to end at $90.77 with dealers buying C$1,231,134 and selling C$738,178, at an average rate that rose by 21 cents to $92.88. The rate for buying the British Pound fell $1.12 to $167.81 for the purchase of £858,779, while £264,854 was sold, as the rate rose 31 cents to $169.68. At the end of trading, the selling rate for Euro, rose 12 cents to close at J$138.91, from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$136.03 for a rise of 10 cents on Thursday’s rate. The US dollar equivalent of other currencies traded, amounts to US$851,288 being bought, while US$748,168 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at on Friday are, a jump of $23.40 in the lowest selling rate of the US dollar to $118, a rise of $1.05 in the highest buying rate of the Canadian dollar to $94. The highest buying rate for the British Pound rose $1.40 to $173.50, while the highest selling rate dipped $2.32 to end at $177.50.
Jamaican$ slips slightly – Thursday
Trading in the foreign exchange market resulted in the Jamaican dollar rising in value against the Pound sterling but slipping slightly versus the US and Canadian dollars on Thursday. The market closed with dealers buying the equivalent of US$29,004,952 and selling US$30,796,524, in contrast to US$37,301,205 purchased and US$38,602,992 sold on Wednesday.
In US dollars trading, dealers bought US$26,385,923 compared to US$32,987,100 on Wednesday, as the buying rate for the US dollar gained 2 cents to end at $121.34. A total of US$29,540,365 was sold versus US$35,699,871 on Wednesday, the selling rate rose by 2 cents to $122.04.
The Canadian dollar buying rate declined 67 cents to end at $90.85 with dealers buying C$1,143,634 and selling C$1,049,062, at an average rate that rose by 18 cents to $92.67. The rate for buying the British Pound fell 84 cents to $168.93 for the purchase of £1,093,361, while £201,066 was sold, as the rate fell $2.15 to $169.37. At the end of trading, the selling rate for Euro, fell 3 cents to close at J$138.79, from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$135.97 for a decline of 5 cents on Wednesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$240,533 being bought, while US$180,563 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at on Thursday are, a decline of $5.18 in the lowest selling rate of the US dollar to $94.60, a rise of $1.50 in the lowest selling rate of the Canadian dollar to $87. The highest buying rate for the British Pound fell by 90 cents to $172.10, while the highest selling rate dipped $1.40 to end at $179.82.
Jamaican$ gains vs all – Wednesday
Trading in the foreign exchange market resulted in the Jamaican dollar rising in value on Wednesday against all the majors as inflows closely match outflows. The market closed with dealers buying the equivalent of US$37,301,205 and selling US$38,602,992, in contrast to US$34,059,616 purchased and US$47,980,165 sold on Tuesday.
In US dollars trading, dealers bought US$32,987,100 compared to US$31,025,556 on Tuesday, as the buying rate for the US dollar fell 4 cents to end at $121.32. A total of US$35,699,871 was sold versus US$46,508,983 on Tuesday, the selling rate slipped by 1 cent to $122.02.
The Canadian dollar buying rate climbed $1.98 to end at $91.52 with dealers buying C$2,603,431 and selling C$2,102,347, at an average rate that dipped 29 cents to $92.49. The rate for buying the British Pound fell 11 cents to $169.77 for the purchase of £1,557,525, while £679,910 was sold, as the rate fell 94 cents to $171.52. At the end of trading, the selling rate for Euro, rose 1 cent to close at J$138.82, from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$135.98 for a decline of 6 cents on Tuesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$170,675 being bought, while US$353,865 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at on Wednesday are, a decline of $4.19 in the lowest buying rate of the US dollar to $99.78, a rise of $1.19 in the highest selling rate to $129.06 and a plunge of $18.22 in the lowest selling rate to $99.78. The lowest buying rate of the Canadian dollar dived by $5.24 to $72.80 with the lowest selling rate falling $2.50 to $85.50. The highest buying rate for the British Pound dropped by $1.50 to $173, while the lowest buying rate dived $6.92 to $138.20 and the highest selling rate jumped $3.75 to end at $181.22.
Jamaican$ loses value – Tuesday
Trading in the foreign exchange market resulted in the Jamaican dollar losing value on Tuesday as inflows were much lower than outflows by US$14 million, effectively wiping out the Monday’s surplus. The market closed with dealers buying the equivalent of US$34,059,616 and selling US$47,980,165, in contrast to US$59,647,969 purchased and US$44,608,557 sold on Monday.
In US dollars trading, dealers bought US$31,025,556 compared to US$55,109,704 on Monday, as the buying rate for the US dollar rose 1 cent to end at $121.36. A total of US$46,508,983 was sold versus US$42,655,499 on Monday, the selling rate rose 7 cents to $122.03. 
The Canadian dollar buying rate dipped 61 cents to end at $89.54 with dealers buying C$1,107,114 and selling C$770,035, at an average rate that rose 34 cents to $92.78. The rate for buying the British Pound fell 57 cents at $169.88 for the purchase of £1,204,645, while £445,155 was sold, as the rate rose 52 cents to $172.46. At the end of trading, the selling rate for Euro, rose 35 cents to close at J$138.81, from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$136.04 for a rise of 44 cents on Monday’s rate. The US dollar equivalent of other currencies traded, amounts to US$530,969 being bought, while US$256,601 was sold.
strong>Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at on Tuesday are, a rise of $4.19 in the lowest buying rate of the US dollar to $103.97, a fall of $1.19 in the highest selling rate to $127.87 and jump of $18.22 in the lowest selling rate of $118. The lowest buying rate of the Canadian dollar rose by $4 to $78.04. The lowest buying rate for the British Pound jumped by $6.68 to $145.12 and the highest selling rate falling $2.67 to end at $177.47.
Big FX intake boost Jamaican$ – Monday
Trading in the foreign exchange market resulted in the Jamaican dollar gaining in value on Monday as inflows were much higher than outflows by US$15 million, more than making up for the short fall on Friday. The market closed with dealers buying the equivalent of US$59,647,969 and selling US$44,608,557, in contrast to US$34,669,827 purchased and US$46,733,831 sold on Friday.
In US dollars trading, dealers bought US$55,109,704 compared to US$31,347,006 on Friday, as the buying rate for the US dollar rose 1 cent to end at $121.35.
A total of US$42,655,499 was sold versus US$45,254,299 on Friday, the selling rate fell by 8 cents to $121.96. The Canadian dollar buying rate rose by 24 cents to end at $90.15 with dealers buying C$1,930,677 and selling C$980,684, at an average rate that dipped by 23 cents to $92.44. The rate for buying the British Pound remained unchanged at $170.45 for the purchase of £1,966,758, while £629,504 was sold, as the rate declined by 96 cents to $171.94. At the end of trading, the selling rate for Euro, dropped 61 cents to close at J$138.46, from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$135.60 for a decline of 62 cents from Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$341,484 being bought, while US$322,274 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at on Monday are, a big fall of $18.22 in the lowest selling rate of the US dollar to $99.78, the lowest buying rate of the Canadian dollar rose by $1.04 to $74.04. The highest buying rate for the British Pound dropped by $3 to $173.80, the lowest buying rate lost $1.83 to $138.44 and the highest selling rate climbed by $1.88 to end at $180.14.
Jamaican$ held vs US$ – Friday
Trading in the foreign exchange market resulted in the Jamaican dollar having a mixed day on Friday with the selling price remaining unchanged against the US dollar, lost value versus the Canadian dollar and making gains on the Pound. The market closed with dealers buying the equivalent of US$34,669,827 and selling US$46,733,831, in contrast to US$44,568,292 purchased and US$55,585,981 sold on Thursday.
In US dollars trading, dealers bought US$31,347,006 compared to US$40,678,858 on Thursday, as the buying rate for the US dollar fell 2 cents to end at $121.34. A total of US$45,254,299 was sold versus US$53,786,605 on Thursday, the selling rate remained steady at $122.04. 
The Canadian dollar buying rate fell 50 cents to end at $89.91 with dealers buying C$1,028,577 and selling C$697,200, at an average rate that was up by 15 cents to $92.67. The rate for buying the British Pound dropped $1.55 to $170.45 for the purchase of £1,210,457, while £514,437 was sold, as the rate declined by 56 cents to $172.90. At the end of trading, the selling rate for Euro, jumped 57 cents to close at J$139.07, from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$136.22 for a rise of 55 cents from Thursday’s rate. The US dollar equivalent of other currencies traded, amounts to US$860,361 being bought, while US$221,326 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at on Friday are, a big rise of $16.25 in the lowest selling rate of the US dollar to $118, with the lowest buying rate of the Canadian dollar falling by $1.49 to $73 and the highest selling rate for the British Pound dropping by $4.48 to $178.27.
Jamaican$ steadies vs US$ – Wednesday
Trading in the foreign exchange market resulted in the Jamaican dollar remaining steady against the US dollar but declining versus the Pound and Canadian dollar on Wednesday. The market closed with dealers buying the equivalent of US$46,701,824 and selling US$57,584,794, in contrast to US$64,271,438 purchased and US$51,490,582 sold on Tuesday.
In US dollars trading, dealers bought US$42,342,647 compared to US$59,240,425 on Tuesday, as the buying rate for the US dollar rose 5 cents to end at $121.30. A total of US$54,952,951 was sold versus US$49,386,062 on Tuesday, the selling rate remained at $121.97. 
The Canadian dollar buying rate rose 79 cents to end at $89.63 with dealers buying C$1,653,054 and selling C$1,141,964, at an average rate that was up by 56 cents to $91.89. The rate for buying the British Pound climbed by $1.13 to $171.25 for the purchase of £2,023,111, while £1,085,844 was sold, as the rate rose $1.33 to $172.67. At the end of trading, the selling rate for Euro, rose 20 cents to close at J$136.43, from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$133.59 for a rise of 18 cents from Tuesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$281,738 being bought, while US$234,268 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at on Wednesday are, a big jump of $18.72 in the lowest selling rate of the US dollar to $118.50, a rise of $1.25 in the lowest buying rate for the British Pound to $139.03, a rise of $1.25 in the highest selling rate to end at $180.90 and a big jump of $20.75 in the lowest selling rate to end at $167.50.