US$ build grows to US$116m on Friday

The rate for the Jamaica dollar slipped against the United States dollar on Friday even as inflows of the US dollar was nearly US$11 million more than the amount sold. The local currency also declined versus the pound while the selling rate of the Canadian dollar fell versus the Jamaica dollar. At the close on Friday, net inflows into foreign exchange market, rose by US$12 million, pushing the surplus since the end of June to US$116 million.
In Friday’s trading, dealers bought US$37,754,708 while they sold US$25,565,625 compared to US$34,661,238 purchased and US$30,381,784 sold on Thursday, of all currencies.
In US dollar trading, dealers bought US$33,387,006 compared to US$31,789,630 on Thursday. The buying rate for the US dollar increased 14 cents to $125.93. A total of US$22,715,862 was sold versus US$29,558,903 on Thursday, with the selling rate rising 6 cents to end at $126.64. The Canadian dollar buying rate rose 9 cents to end at $93.31, with dealers buying C$1,279,996 and selling C$457,411, at an average rate that dropped 54 cents to $95.74. The average rate for buying the British Pound rose 29 cents to $163.97 for the purchase of £2,495,745, while £1,792,639 was sold to end at $165.58, for a gain of 34 cents.
At the end of trading, the selling rate for the Euro, rose by 39 cents to close at J$140.25 from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$134.37 for a fall of $1.62. The US dollar equivalent of other currencies traded amounts to US$134,963 being bought, while US$82,661 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Friday, include, a drop of $18.74 in the lowest selling rate of US dollar to $103.21, a decline of $1.40 in the highest buying rate of the Canadian Dollar to close at $96.60, a gain of $2.50 in the lowest selling rate to $92.50, while trading in the British Pound resulted in a dip of $5 in the highest buying rate to $167.30, a fall of $1.41 in the lowest buying rate to $134.05, a fall of $1.84 in the highest selling rate to end at $174.42 and the lowest selling rate rose $2.30 to end at $160.30.