Trading in the foreign exchange market on Monday was the biggest for March for regular trades, with inflows of all currencies, totaling US$59.92 million, versus US$49.98 million on Friday.
Selling of foreign currency amounted to US$52.98 million in contrast to US$46.42 million previously.
At the close of the market, the selling rate of US dollar fell against the Jamaican dollar by 13 cents on Monday, with the rate dealers bought the US dollar for, costing 21 cents less than the closing rate on Friday.
In US dollar trading, dealers sold US$51 million at a rate of J$127.86 at the close, compared to US$40.7 million at a rate of J$127.99 on Friday. Purchases of the US currency by dealers, amounted to US$57.38 million at an average of $126.85 at the close, compared US$46.22 million at an average of $127.06.
At mid-day on Monday dealers purchased US$21.68 million at an average rate of J$127.10 and sold US$19.48 million at an average of J$127.75. At mid-day on Friday dealers purchased US$21 million at an average rate of J$127.56 and sold US$16.8 million at an average of J$128.13.
The selling rate on Monday, for the Canadian dollar dropped to J$96.50 from J$100.06 at the close on Friday, the selling rate for the British Pound dipped to J$177.09 from J$178.10 previously and the euro slipped against the Jamaican dollar at J$159.72 to buy the European common currency, versus the prior selling rate of J$160.40.
Big haul of FX on Monday
Big gain for Jamaican$ vs US$ – Friday
The selling rate of US dollar fell against the Jamaican dollar by 45 cents on Friday, with the rate dealers bought the US dollar for, costing 38 cents less than the closing rate on Thursday.
On Friday, Inflows of all currencies, totaled US$49.98 million, versus US$44.08 million on Thursday with the selling of US$46.42 million in contrast to US$34.45 million previously traded. For the week dealers bought US$262.6 million in all currencies including US$20 million sold by the central bank while dealers sold $236.6 million, up on the previous week’s purchase of US$232.95 million including US$20 million auctioned by Bank of Jamaica and the selling of US$219.68 million.
Actual US dollar purchases amounted to US243.8 million down from $219.45 million in the prior week and sold US$214.63 million compared to US$209.47 million.
In US dollar trading, dealers sold US$40.7 million at a rate of J$127.99 at the close, compared to US$31.55 million at a rate of J$128.44 on Thursday. Purchases of the US currency by dealers, amounted to US$46.22 million at an average of $127.06 at the close, compared US$40.04 million at an average of $127.44.
At mid-day on Friday dealers purchased US$21 million at an average rate of J$127.56 and sold US$16.8 million at an average of J$128.13. At mid-day on Thursday dealers purchased US$18.95 million at an average rate of J$128.15 and sold US$9.6 million at an average of J$128.58.
The selling rate on Friday, for the Canadian dollar rose to J$100.06 from J$98.82 at the close on Thursday, the selling rate for the British Pound dipped to J$178.10 from J$178.69 previously and the euro rose against the Jamaican dollar at J$160.40 to buy the European common currency, versus the prior selling rate of J$157.96.
Jam$ gains vs US, down vs others – Thursday
The selling rate of US dollar fell against the Jamaican dollar by 23 cents on Thursday, with the rate dealers bought the US dollar for, costing 54 cents less than the closing rate on Wednesday.
On Thursday, Inflows of all currencies, totaled US$44.08 million, versus US$67.64 million on Wednesday with the selling of US$34.45 million in contrast to US$49.54 million previously traded.
In US dollar trading, dealers sold US$31.55 million at a rate of J$128.44 at the close, compared to US$47.86 million at an average of J$128.67 on Wednesday. Purchases of the US currency by dealers, amounted to US$40.04 million at an average of $127.44 at the close, compared US$64.72 million at an average of $128.
At mid-day on Thursday dealers purchased US$18.95 million at an average rate of J$128.15 and sold US$9.6 million at an average of J$128.58. At mid-day on Wednesday dealers purchased US$33.63 million at an average rate of J$128.56 and sold US$15.67 million at an average of J$128.73.
The selling rate on Thursday, for the Canadian dollar rose to J$98.82 from J$98.30 at the close on Wednesday, the selling rate for the British Pound climbed to J$178.69 from J$175.08 previously and the euro rose against the Jamaican dollar at J$157.96 to buy the European common currency, versus the prior selling rate of J$157.14.
Jam$ falls vs US & Euro gains over others
The selling rate of US dollar rose against the Jamaican dollar by 4 cents on Wednesday, with the rate dealers bought the US dollar for, costing 50 cents more than the closing rate on Tuesday.
Bank of Jamaica auctioned US$20 million on Wednesday with the average clearing at $129.22 with US$47.65 million chasing the amount offered for sale. The lowest bid was at $128 and the highest $129.67 for US$1.5 million. The central bank in a notice has no auction set for the next three weeks up to the April 4.
On Wednesday, Inflows of all currencies, totaled US$67.64 million, versus US$51.28 million on Tuesday with the selling of US$49.54 million in contrast to US$52.40 million previously traded.
In US dollar trading, dealers sold US$47.86 million at an average of J$128.67, at the close, compared to US$49.13 million at an average of J$128.63 on Tuesday. Purchases of the US currency by dealers, amounted to US$64.72 million at an average of $128 at the close, compared US$46.72 million at an average of $127.50.
At mid-day on Wednesday dealers purchased US$33.63 million at an average rate of J$128.56 and sold US$15.67 million at an average of J$128.73. At mid-day on Tuesday dealers purchased US$19.38 million at an average rate of J$127.79 and sold US$18.11 million at an average of J$128.43.
The selling rate on Wednesday, for the Canadian dollar fell to J$98.30 from J$100.30 at the close on Tuesday, the selling rate for the British Pound slipped to J$175.08 from J$176.18 previously and the euro rose against the Jamaican dollar at J$157.14 to buy the European common currency, versus the prior selling rate of J$156.17.
Jamaican$ value rises against – Tuesday
The selling rate of US dollar fell against the Jamaican dollar by 13 cents on Tuesday, with the rate dealers bought the US dollar for, costing 36 cents more than the closing rate on Monday.
The local dollar has appreciated since Friday and could make more gains in the next few days with Bank of Jamaica scheduling the auction of US$20 million on Wednesday. The central bank in a notice has no auction set for the next three weeks up to the April 4.
On Tuesday, Inflows of all currencies, totaled US$51.28 million, versus US$49.63 million on Monday with the selling of US$52.40 million in contrast to US$53.75 million previously traded.
In US dollar trading, dealers sold US$49.13 million at an average of J$128.63, at the close, compared to US$50.2 million at an average of J$128.76 on Monday. Purchases of the US currency by dealers, amounted to US$46.72 million at an average of $127.50 at the close, compared US$46.11 million at an average of $127.14.
At mid-day on Tuesday dealers purchased US$19.38 million at an average rate of J$127.79 and sold US$18.11 million at an average of J$128.43. At mid-day on Monday dealers purchased US$26.57 million at an average rate of J$127.84 and sold US$17.58 million at an average of J$128.65.
The selling rate on Tuesday, for the Canadian dollar fell to J$100.30 from J$100.55 at the close on Monday, the selling rate for the British Pound slipped to J$176.18 from J$176.24 previously and the euro dipped against the Jamaican dollar at J$156.17 to buy the European common currency, versus the prior selling rate of J$158.23.
Jamaican$ value rises against US dollar – Monday
The selling rate of US dollar fell against the Jamaican dollar by 5 cents on Monday, with the rate dealers bought the US dollar costing 11 cents less than the closing rate on Friday.
On Monday, Inflows of all currencies, totaled US$49.63 million, versus US$41.47 million on Friday with the selling of US$53.75 million in contrast to US$37.21 million previously traded.
In US dollar trading, dealers sold US$50.2 million at an average of J$128.76, at the close, compared to US$36.10 million at an average of J$128.81 on Friday. Purchases of the US currency by dealers, amounted to US$46.11 million at an average of $127.14 at the close, compared US$39.08 million at an average of $127.45.
At mid-day on Monday dealers purchased US$26.57 million at an average rate of J$127.84 and sold US$17.58 million at an average of J$128.65. At mid-day on Friday dealers purchased US$9.99 million at an average rate of J$127.73 and sold US$15.10 million at an average of J$128.78.
The selling rate on Monday, for the Canadian dollar rose to J$100.55 from J$98.16 at the close on Friday, the selling rate for the British Pound slipped to J$176.24 from J$176.66 previously and the euro jumped against the Jamaican dollar at J$158.23 to buy the European common currency, versus the prior selling rate of J$159.18.
Jamaican$ gains against US currency – Friday
The selling rate of US dollar fell against the Jamaican dollar by 5 cents on Friday, with the rate dealers bought the US dollar costing 5 cents less than the closing rate on Thursday.
On Friday, Inflows of all currencies, totaled US$41.47 million, versus US$36.59 million on Thursday with the selling of US$37.21 million in contrast to US$38.85 million previously traded.
In US dollar trading, dealers sold US$36.10 million at an average of J$128.81, at the close, compared to US$37.48 million at an average of J$128.86 on Thursday. Purchases of the US currency by dealers, amounted to US$39.08 million at an average of $127.45 at the close, compared US$33.45 million at an average of $127.50.
At mid-day on Friday dealers purchased US$9.99 million at an average rate of J$127.73 and sold US$15.10 million at an average of J$128.78. At mid-day on Thursday dealers purchased US$12.85 million at an average rate of J$128.07 and sold US$10.34 million at an average of J$128.95.
The selling rate on Friday, for the Canadian dollar rose to J$99.16 from J$98.25 at the close on Thursday, the selling rate for the British Pound slipped to J$176.66 from J$177.54 previously and the euro jumped against the Jamaican dollar at J$159.18 to buy the European common currency, versus the prior selling rate of J$154.53.
Jam$ rises vs non US currencies – Thursday
The Jamaican dollar made gains against the Canadian, the British and European currencies on Thursday but slipped against the US dollar on Thursday.
The selling rate of US dollar rose against the Jamaican dollar increased by 16 cents on Thursday, with the rate dealers bought the US dollar costing 38 cents less than the closing rate of the previous trading day.
On Thursday, Inflows of all currencies, totaled US$36.59 million, versus US$55.40 million on Wednesday with the selling of US$38.85 million in contrast to US$44.32 million previously traded.
In US dollar trading, dealers sold US$37.48 million at an average of J$128.86, at the close, compared to US$42.29 million at an average of J$128.70 on Wednesday. Purchases of the US currency by dealers, amounted to US$33.45 million at an average of $127.50 at the close, compared US$53.39 million at an average of $127.88.
At mid-day on Thursday dealers purchased US$12.85 million at an average rate of J$128.07 and sold US$10.34 million at an average of J$128.95. At mid-day on Wednesday dealers purchased US$27.30 million at an average rate of J$128.80 and sold US$15.37 million at an average of J$129.08.
The selling rate on Thursday, for the Canadian dollar eased to J$98.25 from J$98.35 at the close on Wednesday, the selling rate for the British Pound slipped to J$177.54 from J$178.59 previously and the euro dived against the Jamaican dollar at J$154.53 to buy the European common currency, versus the prior selling rate of J$159.28.
Jamaican$ suffers sharp fall on Wednesday
The selling rate of US dollar rose against the Jamaican dollar by 52 cents on Wednesday and the rate dealers bought US dollars for being 82 cents more than the closing rate on the previous trading day.
Bank of Jamaica sold US$20 million into the system by way of their BFXITT auction which was not previously publicly announced. The auction attracted bids for US$53.8 million at rates between J$127.90 for $1 million and a high of J$130 for $2 million. The previous auction was at the end of November last year.
On Wednesday, inflows of all currencies, totaled US$55.40 million, versus US$43.67 million on Tuesday with the selling of US$44.32 million in contrast to US$43.99 million previously traded.
In US dollar trading, dealers sold US$42.29 million at an average of J$128.70, at the close, compared to US$42.37 million at an average of J$128.18 on Tuesday. Purchases of the US currency by dealers, amounted to US$53.39 million at an average of $127.88 at the close, compared US$38.98 million at an average of $127.06.
At mid-day on Wednesday dealers purchased US$27.30 million at an average rate of J$128.80 and sold US$15.37 million at an average of J$129.08. At mid-day on Tuesday dealers purchased US$14.3 million at an average rate of J$126.89 and sold US$16.19 million at an average of J$127.89.
The selling rate on Wednesday, for the Canadian dollar rose to J$98.35 from J$97.52 at the close on Tuesday, the selling rate for the British Pound rose to J$178.59 from J$177.97 previously and the euro gained against the Jamaican dollar at J$159.28 to buy the European common currency, versus the prior selling rate of J$158.66.
Jamaican$ gains vs US$ on Tuesday
The selling rate of US dollar fell against the Jamaican dollar by 19 cents on Tuesday, with the rate dealers bought US dollar for 4 cents more than the closing rate at the close of the previous trading day.
On Tuesday, Inflows of all currencies, totaled US$43.67 million, versus US$55.82 million on Monday with the selling of US$43.99 million in contrast to US$55.32 million previously traded.
In US dollar trading, dealers sold US$42.37 million at an average of J$128.18 at, at the close, compared to US$51.22 million at an average of J$128.47 on Monday. Purchases of the US currency by dealers, amounted to US$38.98 million at an average of $127.06 at the close, compared US$49.73 million at an average of $127.02.
At mid-day on Tuesday dealers purchased US$14.3 million at an average rate of J$126.89 and sold US$16.19 million at an average of J$127.89. At mid-day on Monday dealers purchased US$27.95 million at an average rate of J$127.40 and sold US$20.44 million at an average of J$128.34.
The selling rate on Tuesday, for the Canadian dollar slipped to J$97.52 from J$98.06 at the close on Monday, the selling rate for the British Pound rose to J$177.97 from J$177.38 previously and the euro gained against the Jamaican dollar at J$158.66 to buy the European common currency, versus the prior selling rate of J$156.69.