Stability for Jamaican$ on Friday

In a week when the Jamaican dollar continues to gain in value against the US dollar, the local currency slipped modestly in foreign currency trading on Friday, with inflows rising over Thursday’s intake and ending higher than outflows.
The local currency fell against the euro and British Pound but fell gained against the Euro.
On Friday, the rate the public bought the US dollar at, rose to $125.82 as dealers sold US$50.39 million in US currency, compared US$38.83 million at an average rate of $125.81 on Thursday. US currency purchases by dealers amounted to US$40.20 million on Friday, at an average rate of $124.83, compared to Thursday, with US$44.92 million at $125.
On Friday at midday dealers purchased US$13.5 million at an average rate of J$125.27 and sold US$16.47 million at an average of J$125.83.
At mid-day on Thursday dealers purchased US$10.71 million at an average rate of J$125.15 while they sold US$12.19 million at an average of J$125.79.
Dealers’ purchased US$51.76 million, versus US$50.94 million on Thursday in all currencies in Jamaica’s Forex market and sold US$63.86 million compared with US$43.20 million sold, previously.
The selling rate for the Canadian dollar rose to J$98.31 from J$98.05 at the close on Thursday. The selling rate for the British Pound rose to J$168.91 versus J$168.51 previously and the euro lost value against the Jamaican dollar at J$146.96 to buy the European common currency, versus the prior selling rate of J$150.17.

More gains in value for Jamaican$

The Jamaican dollar made further gains against the US dollar trading in trading in the Jamaica’s foreign currency market on Thursday with inflows rising over Wednesday’s intake and ending higher than outflows.
The local currency made gains against the Canadian dollar but fell against the British Pound and the Euro.
On Thursday, the rate the public bought the US dollar at, slipped to $125.81 as dealers sold US$38.83 million in US currency, compared US$43.18 million at an average rate of $125.91 on Wednesday. US currency purchases by dealers amounted to US$44.92 million on Thursday, at an average rate of $125, compared to Wednesday, with US$38.53 million at $124.73.
On Thursday at midday dealers purchased US$10.71 million at an average rate of J$125.15 and sold US$12.19 million at an average of J$125.79.
At mid-day on Wednesday dealers purchased US$15.85 million at an average rate of J$125.30 while they sold US$11.25 while they sold US$11.25 million at an average of J$125.91.
Dealers’ purchased US$50.94 million, versus US$44.15 million on Wednesday in all currencies in Jamaica’s Forex market and sold just US$43.20 million compared with US$47.42 million sold, previously.
The selling rate for the Canadian dollar fell to J$98.05 from J$98.72 at the close on Wednesday. The selling rate for the British Pound rose to J$168.51 versus J$168.42 previously and the euro gained value against the Jamaican dollar at J$150.17 to buy the European common currency, versus prior selling rate of J$149.65.

Jamaican$ gains against all 4 currencies

US dollar trading in Jamaica’s foreign currency market declined on Wednesday with inflows falling below outflows with the rate to buy the US dollar by the public, slipping modestly the local dollar also gained against the other three major currencies.
On Wednesday, the Jamaican dollar rate the public bought the US dollar at, slipped to $125.91 as dealers sold US$43.18 million in US currency, down from US$61.50 million at an average rate of $125.94 on Tuesday. US currency purchases by dealers amounted to US$38.53 million on Wednesday, at an average rate of $124.73, compared to Tuesday, with US$66.68 million at $125.09.
On Wednesday at midday dealers purchased US$15.85 million at an average rate of J$125.30 while they sold US$11.25 million at an average of J$125.91.
At mid-day on Tuesday dealers purchased US$28.15 million at an average rate of J$125.39 while they sold US$13.70 million at an average of J$125.76.
Dealers’ purchased US$44.15 million, versus US$70.48 million on Tuesday in all currencies in Jamaica’s Forex market and sold just US$47.42 million compared with US$63.75 million sold, previously.
The selling rate for the Canadian dollar fell to J$98.72 from J$99.02 at the close on Tuesday. The selling rate for the British Pound slipped to J$168.42 versus J$168.81 previously and the euro fell in value against the Jamaican dollar at J$149.65 to buy the European common currency, versus prior selling rate of J$149.90.

US dollar trading jumps

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US dollar trading in Jamaica’s foreign currency market climbed on Tuesday with inflows exceeding outflows with the rate to buy the US dollar by the public, rising by 18 Jamaican cents, the first time in a week.
On Tuesday, the rate of exchange to buy the US dollar by the public, rose to $125.94 as dealers sold US$61.50 million in US currency, up strongly from US$48.69 million at an average rate of $125.76 on Monday. US currency purchases amounted to US$66.68 million on Monday, at an average rate of $125.09, compared to Monday, with US$56.75 million at $124.94.
On Tuesday at midday dealers purchased US$28.15 million at an average rate of J$125.39 while they sold US$13.70 million at an average of J$125.76.
At mid-day on Monday dealers purchased US$19.60 million at an average rate of J$125.20 while they sold US$15.74 million at an average of J$125.73.
Dealers’ purchased US$70.48 million, versus US$61.32 million on Monday in all currencies in Jamaica’s Forex market and sold just US$63.75 million compared with US$50.73 million sold, previously.
The selling rate for the Canadian dollar jumped to J$99.02 from J$96.77 at the close on Monday. The selling rate for the British Pound climbed to J$168.81 versus J$168.62 previously and the euro held value against the Jamaican dollar at J$149.90.

It cost J$125.76 for one US dollar

The rate for to buy the US dollar by the public in Jamaica’s foreign currency market, dropped by 22 Jamaican cents on Monday, as inflows into the market exceeding outflows by US$8 million.
On Monday at midday dealers purchased US$19.60 million at an average rate of J$125.20 while they only sold US$15.74 million at an average of J$125.73.
At mid-day on Friday dealers purchased US$7.7 million at an average rate of J$125.24 while they sold US$6.96 million at an average of J$125.98.
On Monday, the rate of exchange to buy the US dollar by the public, declined for the fifth consecutive day to end at  $125.76, as dealers sold US$48.69 million in US dollars, compared to US$30.35 million at an average rate of $125.98 on Friday. US currency purchases amounted to US$56.75 million on Monday, at an average rate of $124.94, compared to Friday, with US$30.77 million at $124.73.
Dealers’ purchased US$61.32 million, versus US$34.27 million on Friday in all currencies in Jamaica’s Forex market and sold just US$50.73 million compared with US$32.6 million sold, previously.
The selling rate for the Canadian dollar dropped to J$96.77 from J$98.60 at the close on Friday. The selling rate for the British Pound slipped to J$168.62 versus J$169.10 previously and the euro gained value against the Jamaican dollar, moving to J$149.90 to buy the European common currency, versus prior selling rate of J$150.96.

More gains for Jamaican$

Jamaica’s foreign currency market activity returned to normal on Friday with trading at midday showing buying and selling almost even, unlike the previous two days when selling was well below buying. On Friday at midday, dealers purchased US$7.7 million at an average rate of J$125.24 and sold US$6.96 million at an average of J$125.98.
At mid-day on Thursday dealers purchased US$15.39 million at an average rate of J$125.49 while selling US$7.72 million at an average of J$126.05.
On Friday, the rate of exchange to buy the US dollar by the public, declined for the fourth time for the week to $125.98 as dealers sold US$30.35 million in US dollars, compared to US$38.51 million at an average rate of $126.08 on Thursday.
US currency purchases amounted to US$30.77 million on Friday, at an average rate of $124.73, compared to Thursday, with US$32.67 million at $125.
Dealers’ purchased US$34.27 million, versus US$42.48 million on Thursday in all currencies in Jamaica’s Forex market and sold just US$32.6 million compared with US$46.15 million sold, previously.
The selling rate for the Canadian dollar jumped to J$98.60 from J$95.16 at the close on Thursday. The selling rate for the British Pound slipped to J$169.10 versus J$169.72 previously and the euro gained value against the Jamaican dollar, moving to J$150.96 to buy the European common currency, versus prior selling rate of J$148.55.

Jamaican cashing US$ for Wisynco stock?

At midday on Thursday, foreign currency was pouring into dealers coffers faster than they could dispose of it, with total US$15.39 million purchased by dealers at an average rate of J$125.49, while they could only sell US$7.72 million, at an average of J$126.05.
By the close of trading on Thursday, dealers average rate was down to just $125 to buy the US dollar, a clear indication that they were staving off the selling pressure.
Interestingly, last week, purchases by dealers for the first 4 days for the US dollar, was $145 million and jumped to $161 million to Thursday this week, while the dealers sold just US$167 million in US currency this week, up from $150 from the prior week. The fall in the exchange rate with more selling of US dollars by dealers, suggest that the general public are offloading US dollars into the system. The selloff comes at an interesting time with the very popular Initial Public Offering of shares in Wisynco Group.
Thursdays’ mid-day trading pattern was similar to Wednesday’s with the purchase of US$13.57 million at J$125.72 and selling of US$7.37 million at J$126.16 by mid-day.
On Thursday, the rate of exchange to buy the US dollar by the public, declined for the third time for the week to $126.08, as dealers sold US$38.51 million in US dollars, compared to US$41.03 million at an average rate of $126.20 on Wednesday.

Wata produced by Wisynco

US currency purchases amounted to US$32.67 million on Thursday, at an average rate of $125, compared to Wednesday, with US$43.27 million at $125.29.
Dealers’ purchased US$42.48 million, versus US$53.74 million on Wednesday in all currencies, in Jamaica’s Forex market and sold US$46.15 million compared with US$44.63 million sold, previously.
The selling rate for the Canadian dollar dropped to J$95.16 from J$98.39 at the close on Wednesday. The selling rate for the British Pound climbed to J$169.72 versus J$169.34 previously and the euro lost value against the Jamaican dollar, recovering to J$148.55 to buy the European common currency, versus prior selling rate of J$146.91.

Jamaican$ value improves again – Wednesday

On Wednesday, the rate of exchange to buy the US dollar by the public, fell to $126.20 as dealers sold US$41.03 million in US dollars, compared to US$43.18 million at an average rate of $126.30 on Tuesday.
US currency purchases amounted to US$43.27 million on Wednesday, at an average rate of $125.29, compared to Tuesday, with US$36.45 million at $125.20.
Dealers’ purchased US$53.74 million, versus US$41.92 million on Tuesday in all currencies in Jamaica’s Forex market and sold US$44.63 million compared with US$48.22 million sold, previously.
At Midday, dealers bought just US$13.57 million at J$125.72 and sold US$7.37 million at J$126.16 compared to the purchase of US$12.76 million at J$125.57 and selling of US$10.07 million at J$126.25 on Tuesday
The selling rate for the Canadian dollar fell to J$98.39 from J$99.30 at the close on Tuesday. The selling rate for the British Pound jumped to J$169.34 versus J$168.12 previously and the euro lost value against the Jamaican dollar, declined to J$146.91 to buy the European common currency, versus prior selling rate of J$151.75.

Jamaican$ makes more gains – Tuesday

On Tuesday, the rate of exchange to buy the US dollar by the public, remained at $126.30 as dealers sold US$43.18 million in US dollars, compared to US$44.52 million at an average rate of $126.30 on Monday.
US currency purchases amounted to US$36.45 million on Tuesday, at an average rate of $125.20, compared to Monday, with US$48.63 million at $125.45.
Dealers’ purchased US$41.92 million, versus US$53.35 million on Monday in all currencies in Jamaica’s forex market and sold US$48.22 million compared with US$62.52 million sold, previously.
At Midday, dealers bought just US$12.76 million at J$125.57 and sold US$10.07 million at J$126.25 compared to the purchase of US$27.48 million at J$125.99 and selling of US$13.66 million at J$126.23 on Monday
The selling rate for the Canadian dollar fell to J$99.30 from J$99.90 at the close on Monday. The selling rate for the British Pound slipped to J$168.12 versus J$168.14 previously and the euro gained in value against the Jamaican dollar, declined to J$151.75 to buy the European common currency, versus prior selling rate of J$152.44.

Jamaican$ makes more gains – Monday

The Jamaican dollar strengthened further against the US dollar in foreign exchange trading on Monday, with it taking 4 cents less to buy the US dollar than on Friday.
The major news of the day was the sell-off of the Canadian dollar with dealers selling Can$21.36 million but at a higher rate than at the close of Friday, compared to just Can$3.6 million bought on Monday.
On Monday, the rate of exchange to buy the US dollar by the public, dropped to $126.30 as dealers sold US$44.52 million of the US dollar, compared to US$28.17 million at an average rate of $126.34 on Friday.
US currency purchases amounted to US$48.63 million on Monday, at an average rate of $125.45, compared to Friday, with US$35.34 million at $125.46.
Dealers’ purchased US$53.35 million, versus US$43.45 million on Friday in all currencies in Jamaica’s forex market and sold US$62.52 million compared with US$34.28 million sold, previously.
At Midday, dealers bought just US$27.48 million at J$125.99 and sold US$13.66 million at J$126.23 compared to the purchase of US$6.7 million at J$125.60 and selling of US$8.9 million at J$126.21 on Friday
The selling rate for the Canadian dollar rose to J$99.90 from J$99.50 at the close on Friday. The selling rate for the British Pound climbed to J$168.14 versus J$167.32 previously and the euro gained in value against the Jamaican dollar, jumping to J$152.44 to buy the European common currency, versus prior selling rate of J$148.92.