In Wednesday’s forex trading, the selling rate for the Jamaican dollar was up versus the Canadian dollar but it was fairly stable against the US dollar and fell against the Pound Sterling.
Authorized dealers bought the equivalent of US$34,069,194 versus US$31,547,793 on Tuesday, and sold the equivalent of US$36,968,896 compared to US$43,845,589 on Tuesday. In US dollar trading, dealers bought US$29,576,893 compared to US$26,975,990 on Tuesday. The buying rate for the US dollar rose 9 cents to $112.33 and US$33,827,227 was sold versus US$39,677,380 on Tuesday, the selling rate was up a cent to $112.83.
The Canadian dollar buying rate declined 70 cents to $101.11 with dealers buying C$933,419 and selling C$689,558, with the selling rate rising by 62 cents to $103.61.The Pound closed at $186.93, for the purchase of £1,690,394 as the rate rose 33 cents while £1,185,147 was sold, as the rate declined by 33 cents to $188.64. Other currencies bought, amounted to the equivalent of US$839,191 while selling was the equivalent of US$527,123.
Highs & Lows| The highest rate for buying the US dollar, rose 10 cents to $113.20, the lowest buying, the highest and the lowest selling rates remained unchanged, at $91.85, $117.70 and $91.85, respectively. The highest buying rate for the Canadian dollar, climbed by 35 cents to $103.65 and the lowest buying rate remained at $81.34. The highest selling rate rose 82 cents to $106.50 and the lowest selling rate was up $1.10 to $99.10. The highest buying rate for the British Pound declined 10 cents to $189.40, the lowest buying rate fell 13 cents to $151.35. The highest selling rate fell $3.58, to $191.70 and lowest selling rate eased back by 15 cents to $182.35.
J$ gains on Pound down on Can $ stable US
Jamaican $ gains vs Can $ stable with US & Pound
In Tuesday’s forex trading, the selling rate for the Jamaican dollar was fairly stable against the US dollar and the Pound Sterling but made modest gains versus the Canadian dollar. Dealers sold over US$12 million more than they bought.
Authorized dealers bought the equivalent of US$31,547,793 versus US$53,329,347 on Monday, and sold the equivalent of US$43,845,589 compared to US$50,685,771 on Monday.
In US dollar trading, dealers bought US$26,975,990 compared to US$47,852,405 on Monday. The buying rate for the US dollar rose 6 cents to $112.25 and US$39,677,380 was sold versus US$48,469,980 on Monday, the selling rate was up a cent to $112.83.
The Canadian dollar buying rate rose 38 cents to $101.81 with dealers buying C$2,523,040 and selling C$2,993,930 the selling rate declined by 13 cents to $102.99.
The Pound closed at $186.60, for the purchase of £1,198,793 as the rate rose 13 cents while £622,846 was sold, as the rate remained at $188.96. Other currencies bought, amounted to the equivalent of US$290,493 while selling was the equivalent of US$392,170.
Highs & Lows| The highest rate for buying the US dollar, fell 15 cents to $113.10, the lowest buying, the highest and the lowest selling rates remained unchanged, at $91.85, $117.70 and $91.85 respectively. The highest buying rate for the Canadian dollar declined by 70 cents to $103.30 and the lowest buying rate remained at $81.34. The highest selling rate rose 18 cents to $105.68 and the lowest selling rate was unchanged at $98. The highest buying rate for the British Pound declined 30 cents to $189.50, the lowest buying rate recovered $39.78 to $151.48, the highest selling rate fell $1.06, to $195.28 and lowest selling rate jumped back by $22.85 at $182.50.
Jamaican $ gains vs Pound stable with US
In Monday’s forex trading, the selling rate for the Jamaican dollar made gains against the British Pound but was stable against the US dollar as dealers bought nearly US$3 million more than they sold. On Friday, dealers bought $9 million more than they sold. 
Authorized dealers bought the equivalent of US$53,329,347 versus US$41,719,974 on Friday, and sold the equivalent of US$50,685,771 compared to US$32,548,314 on Friday.
In US dollar trading, dealers bought US$47,852,405 compared to US$35,874,558 on Friday. The buying rate for the US dollar lost 14 cents to $112.19 and US$48,469,980 was sold versus US$28,416,014 on Friday, the selling rate was unchanged at $112.82.
The Canadian dollar buying rate fell 54 cents to $101.43 with dealers buying C$2,118,078 and selling C$1,018,014, the selling rate rose 17 cents to $103.12.
The Pound closed at $186.47, for the purchase of £1,986,266 as the rate slipped 85 cents while £492,793 was sold, as the rate declined 81 cents, to $188.96. Other currencies bought, amounted to the equivalent of US$260,568 while selling was the equivalent of US$459,939.
Highs & Lows| The highest rate for buying the US dollar, rose 5 cents to $113.25, the lowest buying, the highest and the lowest selling rates remained unchanged, at $91.85, $117.70 and $91.85 respectively. The highest buying rate for the Canadian dollar was up 65 cents to $104 and the lowest buying rate fell 25 cents to $81.34. The highest selling rate fell by $7.50 to $105.50 and the lowest selling rate was down 30 cents at $98. The highest buying rate for the British Pound declined 50 cents to $189.80, the lowest buying rate dropped $40.61 t0 $111.70, the highest selling rate rose $2.95 to $196.34 and lowest selling rate dived by $23.85 at $159.65.
Jamaican dollar makes gains
In Friday’s forex trading, the selling rate for the Jamaican dollar made modest gains against all three major intervention currencies as dealers bought US$9 million more than they sold, thus reversing the net of US$6 million more sold, than purchased on Thursday.
Authorized dealers bought the equivalent of US$41,719,974 versus US$32,486,790 on Thursday, and sold the equivalent of US$32,548,314 compared to US$38,351,319 on Thursday.
In US dollar trading, dealers bought US$35,874,558 compared to US$26,851,403 on Thursday. The buying rate for the US dollar gained 26 cents to $112.33 and US$28,416,014 was sold versus US$35,366,233 on Thursday, the selling rate eased back 1 cent to $112.82.
The Canadian dollar buying rate was up $1.05, to $101.98 with dealers buying C$3,015,843 and selling C$2,205,950, the selling rate fell 35 cents to $102.95.
The Pound closed at $187.32, for the purchase of £1,396,008 as the rate slipped 99 cents while £597,214 was sold, as the rate declined 7 cents, to $189.77. Other currencies bought, amounted to the equivalent of US$779,695 while selling was the equivalent of US$1,114,637.
Highs & Lows| The highest rate for buying the US dollar, rose 10 cents to $113.20, the lowest buying and the highest selling rates remained unchanged, at $91.85 and $117.70 respectively. The lowest selling rate closed $18.15 lower at $91.85. The highest buying rate for the Canadian dollar fell 47 cents to $103.35 and the lowest buying rate remained unchanged at $81.59. The highest selling rate jumped by $7.50 to $113 and the lowest selling rate was unchanged at $98.30. The highest buying rate for the British Pound declined 70 cents to $190.30, the lowest buying rate was unchanged at $152.31, the highest selling rate fell $2.95 to $193.39 and lowest selling rate remained at $183.50.
Jamaica’s NIR passes US$2b
Jamaica’s Net International Reserves (NIR) now exceeds US$2 billion as it sits at US$2.18 billion, up by US$805 million during July. The increase reflects the US$800 million bond, the government raised recently on the international market.
The gross amount of the reserves is US$2.8 billion, up by US$793 million during July, of this amount US$606 million is due to the International Monetary Fund (IMF) and represents primarily, funds obtained from the IMF for liquidity support for the financial system, when the JLP government undertook the first debt exchange, back in 2010.
Reserves of Goods Imports amount to 28.13 weeks and 20.30 weeks of Rreserves of Goods & Services Imports.
More Forex sold than bought
In Thursday’s forex trading, dealers sold US$6 million more than they bought on a day when the Jamaican dollar was fairly stable against Jamaica’s three major intervention currencies.
Authorized dealers bought the equivalent of US$32,486,790 on Thursday versus US$40,186,503 on Tuesday, and sold the equivalent of US$38,351,319 compared to US$40,462,437 on Tuesday. In US dollar trading, dealers bought US$26,851,403 compared to US$35,531,731 on Tuesday. The buying rate for the US dollar fell 13 cents to $112.08 and US$35,366,233 was sold versus US$37,371,084 on Tuesday, the selling rate gained 1 cent to $112.83. The Canadian dollar buying rate was up 10 cents, to $100.92 with dealers buying C$1,150,630 and selling C$734,920, the rate rose 4 cents to $103.30.
The Pound closed at $188.31, for the purchase of £2,211,754 as the rate rose 39 cents while £983,331 was sold, as the rate declined 36 cents, to $189.83. Other currencies bought, amounted to the equivalent of US$883,057 while selling was the equivalent of US$657,785.
Highs & Lows| The highest rate for buying the US dollar, fell 10 cents to $113.10, the lowest buying and the highest selling rates remained unchanged, at $91.85 and $117.70 respectively. The lowest selling rate closed $18.15 higher at $110. The highest buying rate for the Canadian dollar fell 18 cents to $103.82 and the lowest buying rate lost 17 cents to $81.59. The highest selling rate declined by 41 cents to $105.50 and the lowest selling rate was down 20 cents to $98.30. The highest buying rate for the British Pound climbed 55 cents to $191, the lowest buying rate was unchanged at $152.31, the highest selling rate rose 28 cents to $196.34 and lowest selling rate fell 70 cents to $183.50.
Jamaican$ fairly stable
In Tuesday’s forex trading, funds bought and sold by dealers were equally matched. Authorized dealers bought the equivalent of US$40,186,503 versus US$48,682,961 on Monday, and sold the equivalent of US$40,462,437 compared to US$44,817,815 on Monday.
In US dollar trading, dealers bought US$35,531,731 compared to US$43,475,603 on Monday. The buying rate for the US dollar rose 1 cent to $112.21 and US$37,371,084 was sold versus US$42,538,907 on Monday, the selling rate gained 1 cent to $112.82.
The Canadian dollar buying rate fell 43 cents, to $100.82 with dealers buying C$1,339,275 and selling C$987,260, the rate fell 9 cents to $103.26.
The Pound closed at $187.92, for the purchase of £1,935,086 as the rate rose 91 cents while £1,073,666 was sold, as the rate rose 11 cents, to $190.20. Other currencies bought, amounted to the equivalent of US$210,503 while selling was the equivalent of US$377,796.
Highs & Lows| The highest rate for buying the US dollar, fell 10 cents to $113.20, the lowest buying, the highest selling and the lowest selling rates remained unchanged, at $91.85, $117.70 and $91.85 respectively. The highest buying rate for the Canadian dollar rose 18 cents to $104 and the lowest buying rate lost 16 cents to $81.76. The highest selling rate declined by 59 cents to $106.91 and the lowest selling rate was down 20 cents to $98.50. The highest buying rate for the British Pound fell $1.05 to $190.45, the lowest buying rate was unchanged at $152.31, the highest selling rate dipped 28 cents to $196.06 and lowest selling rate climbed 70 cents to $184.20.
Jamaican$ gained against all
In Monday’s forex trading, funds bought by dealers, were US$4 million more than the amount they sold. Authorized dealers bought the equivalent of US$48,682,961 versus US$39,624,611 on Thursday, and sold the equivalent of US$44,817,815 compared to US$33,192,211 on Thursday.
In US dollar trading, dealers bought US$43,475,603 compared to US$33,363,187 on Thursday. The buying rate for the US dollar fell 17 cents to $112.19 and US$42,538,907 was sold versus US$29,758,889 on Thursday, the selling rate declined by 4 cents to $112.82.
The Canadian dollar buying rate fell $2.30, to $101.24 with dealers buying C$1,861,517 and selling C$630,031, the rate fell 51 cents to $103.36.
The Pound closed at $187.02, for the purchase of £1,598,529 as the rate dropped $1.18 while only £446,552 was sold, as the rate eased $1.02, to $190.09. Other currencies bought, amounted to the equivalent of US$862,883 while selling was for the equivalent of US$949,281.
Highs & Lows| The highest rate for buying the US dollar, rose 5 cents to $113.30, the lowest buying, and the highest selling rates remained unchanged at $91.85 and $117.70 respectively, the lowest selling dropped $1.45 to $91.85. The highest buying rate for the Canadian dollar declined $1.73 to $103.82 and the lowest buying rate lost 4 cents to $81.92. The highest selling rate was unchanged at $106.50 and the lowest selling rate was down 5 cents to $98.70. The highest buying rate for the British Pound remained at $191.50, the lowest buying rate declined by 16 cents to $152.31, the highest selling rate dipped 22 cents to $196.34 and lowest selling rate declined 20 cents to $183.50.
Argentina’s recent debt default -consequencies
The government of Argentina has defaulted its public debt – yet again. It is bound to have unfavourable consequences for the people of Argentina, who are likely to see their currency lose value, and many will lose their jobs.
Argentina’s vineyard
“The current political situation in Argentina is also looking positive: Mrs. Kirchner’s, the country’s president’s popularity is at an all-time low, she can’t be re-elected, and doesn’t have the power to nominate her successor” Steve Rosberg, an Argentinian resident stated. Rosberg goes on to state that “as a result, and as a reaction of her leftist rhetoric and the current crisis, the four most probable candidates – those who have real chances of being elected – are all market friendly, and of a centre to centre-right inclination. They are all likely to make the necessary reforms to get out of this default, and to pursue foreign investment. We believe they don’t really have a choice, except in a matter of degrees. It has been a slow and painful decade with the Kirchners, who are leaving the country pretty much in the same condition they found it in 2003. Now, like then, there will be great opportunities to invest in Argentina”.
J$ loss value but with more buying than selling
In Thursday’s forex trading, funds bought by dealers, were US$6.5 million more than the amount they sold as dealers bought the equivalent of US$39,624,611 versus US$26,608,863 on Wednesday, and sold the equivalent of US$33,192,211 compared to US$28,847,941 on Wednesday.
In US dollar trading, dealers bought US$33,363,187 compared to US$22,632,506 on Wednesday. The buying rate for the US dollar rose 19 cents to $112.36 and US$29,758,889 was sold versus US$26,598,009 on Wednesday, as the rate increased by 6 cent to $112.85. The Canadian dollar buying rate rose $1.77, to $103.54 with dealers buying C$3,587,157 and selling C$2,547,374, the rate fell 58 cents to $103.86. The British Pound closed at $188.19, for the purchase of £1,423,837, as the rate dropped 99 cents while £568,086 was sold, as the rate increased 18 cents, to $191.11. Other currencies bought, amounted to the equivalent of US$571,212 while selling was the equivalent of US$126,760.
Highs & Lows| The highest rate for buying the US dollar, fell 5 cents rise to $113.25, the lowest buying, and the highest selling rates remained unchanged at $91.85 and $117.70 respectively, the lowest selling rose $1.45 to $93.30. The highest buying rate for the Canadian dollar declined 39 cents to $105.55 and the lowest buying rate lost 63 cents to $81.96. The highest selling was unchanged at $106.50 and the lowest selling rate was down 75 cents to $98.75. The highest buying rate for the British Pound remained at $191.50, the lowest buying rate declined by 42 cents to $152.47, the highest selling rate rose $1.96 to $196.56 and lowest selling rate declined $2.40 to $183.70.
