The rate for buying the US dollar dropped again on Monday against the Jamaican dollar by 41 cents on top of the 34 cents fall on Friday as the rate hits $126.45 and is down from $127.86 on the previous Monday.
The fall in the rate suggest that dealers are getting rid of surplus funds accumulated when the rate was rising since January. The upward movement in the rate came to an end with unscheduled sale of a total of $40 million in its foreign exchange auction over two Wednesdays to March 14.
Buying of foreign exchange in the Jamaican market fell on Monday from Friday’s levels, with inflows of all currencies, ending at US$47.24 million, versus US$58 million on Friday. Dealers sold US$54.79 million in contrast to US$44.5 million, previously.
In US dollar trading, dealers sold US$50.75 million at a rate of J$126.45 at the close, compared to US$43.44 million at a rate of J$126.86 on Friday. Purchases of the US currency by dealers, amounted to US$44.27 million at an average of $125.36, compared to US$48.8 million at an average of $125.86 on Friday.
At mid-day on Monday dealers purchased US$19.12 million at an average rate of J$125.86 and sold US$27.58 million at an average of J$126.37. At mid-day on Friday dealers purchased US$13.38 million at an average rate of J$126.34 and sold US$13.20 million at an average of J$126.74.
The selling rate on Monday, for the Canadian dollar slipped to J$98.23 from J$98.45 at the close on Friday, the selling rate for the British Pound fell to J$176.63 from J$178.67 previously and the euro rose against the Jamaican dollar at J$158.26 to buy the European common currency, versus the prior selling rate of J$157.67.

The rate for buying the US dollar dropped against the Jamaican dollar by 34 cents on Friday as the rate fell below the $127 mark as inflows of US dollars exceeded outflows.
The rate dealers bought the US dollar for, fell by 7 cents from the closing rate on Thursday.
Buying of foreign exchange in the Jamaican market increased on Friday from Thursday’s levels, with inflows of all currencies, hitting US$58 million, versus US$32.49 million on Thursday. Dealers sold US$44.5 million in contrast to US$37.07 million, previously.
In US dollar trading, dealers sold US$43.44 million at a rate of J$126.86 at the close, compared to US$29.6 million at a rate of J$127.20 on Thursday. Purchases of the US currency by dealers, amounted to US$48.8 million at an average of J$125.86 at the close, compared US$29.12 million at an average of J$125.93.
For the week dealers bought US$231 million in all currencies down from US$262.6 million in all currencies sold in the previous week, including US$20 million auctioned by the central bank. Dealers sold US$229 million sold by the central bank while dealers sold US$236.6 million, compared to the selling of US$236.6 million previously.
Actual US dollar purchases amounted to US$210 million down from US$243.8 million in the prior week and sold US$214.95 million compared to US$219.45 million.
At mid-day on Friday dealers purchased US$13.38 million at an average rate of J$126.34 and sold US$13.20 million at an average of J$126.74. At mid-day on Thursday dealers purchased US$8.29 million at an average rate of J$126.49 and sold US$7.5 million at an average of J$127.23.
The selling rate on Friday, for the Canadian dollar slipped to J$98.45 from J$98.51 at the close on Thursday, the selling rate for the British Pound fell to J$178.67 from J$178.92 previously and the euro inched higher against the Jamaican dollar at J$157.67 to buy the European common currency, versus the prior selling rate of J$157.55.

The rate for buying the US dollar dropped against the Jamaican dollar by 35 cents on Thursday and the rate dealers bought the US dollar for, fell by 58 cents compared to the closing rate on Wednesday.
Buying of foreign exchange in the Jamaican market, pulled back on Thursday from Wednesday’s levels with inflows of all currencies, totaling US$32.49 million, versus US$39.4 million on Wednesday. Selling by dealers was slightly down to US$37.07 million in contrast to US$41.1 million, previously.
In US dollar trading, dealers sold US$29.6 million at a rate of J$127.20 at the close, compared to US$40.08 million at a rate of J$127.55 on Wednesday. Purchases of the US currency by dealers, amounted to US$29.12 million at an average of J$125.93 at the close, compared US$37.20 million at an average of J$126.51.
At mid-day on Thursday dealers purchased US$8.29 million at an average rate of J$126.49 and sold US$7.5 million at an average of J$127.23. At mid-day on Wednesday dealers purchased US$9.16 million at an average rate of J$126.79 and sold US$16.18 million at an average of J$127.37.
The selling rate on Thursday, for the Canadian dollar rose to J$98.51 from J$97.66 at the close on Wednesday, the selling rate for the British Pound climbed to J$178.92 from J$178.42 previously and the euro inched higher against the Jamaican dollar at J$157.55 to buy the European common currency, versus the prior selling rate of J$157.44.

Buying of foreign exchange in the Jamaican market, pulled back on Wednesday from the levels on Tuesday, with inflows of all currencies reaching US$39.4 million, versus US$41.2 million on Tuesday selling slightly US$41.1 million in contrast to US$53.64 million, previously.
At the close of the market, the selling rate of US dollar rose against the Jamaican dollar by 8 cents, with the rate dealers bought the US dollar for, costing just 1 cent less than the closing rate on Tuesday.
In US dollar trading, dealers sold US$40.08 million at a rate of J$127.55 at the close, compared to US$50.83 million at a rate of J$127.47 on Tuesday. Purchases of the US currency by dealers, amounted to US$37.20 million at an average of $126.51 at the close, compared US$37.47 million at an average of $126.52.
At mid-day on Wednesday dealers purchased US$9.16 million at an average rate of J$126.79 and sold US$16.18 million at an average of J$127.37. At mid-day on Tuesday dealers purchased US$14.58 million at an average rate of J$127.09 and sold US$15.9 million at an average of J$127.45.
The selling rate on Wednesday, for the Canadian dollar rose to J$97.66 from J$97.05 at the close on Tuesday, the selling rate for the British Pound climbed to J$178.42 from J$175.60 previously and the euro inched higher against the Jamaican dollar at J$157.44 to buy the European common currency, versus the prior selling rate of J$157.42.

Buying of foreign exchange in the Jamaican market, market pulled back on Tuesday from the levels on Monday.
Inflows of all currencies, totaled US$41.2 million, versus US$59.92 million on Monday but sales rose slightly to US$53.64 million in contrast to US$52.98 million, previously.
At the close of the market, the selling rate of US dollar fell against the Jamaican dollar by 39 cents, with the rate dealers bought the US dollar for, costing 33 cents less than the closing rate on Monday.
In US dollar trading, dealers sold US$50.83 million at a rate of J$127.47 at the close, compared to US$51 million at a rate of J$127.86 on Monday. Purchases of the US currency by dealers, amounted to US$37.47 million at an average of $126.52 at the close, compared US$57.38 million at an average of $126.85.
At mid-day on Tuesday dealers purchased US$14.58 million at an average rate of J$127.09 and sold US$15.9 million at an average of J$127.45. 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
The selling rate on Tuesday, for the Canadian dollar rose to J$97.05 from J$96.50 at the close on Monday, the selling rate for the British Pound dipped to J$175.60 from J$177.09 previously and the euro slipped against the Jamaican dollar at J$157.42 to buy the European common currency, versus the prior selling rate of J$159.72.

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.

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.

Jamaica’s Central Bank auctioned US$20M during the week.

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.

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.

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.

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.