The rate for exchanging the Jamaican dollar against the US dollar, rose by 8 cents in foreign currency trading on Wednesday, with total inflows of all foreign currencies less than outflows as dealers offload excess funds.
The public bought the US dollar at $125.55 with dealers selling US$60.97 million in US currency, compared US$47.50 million at an average rate of $125.47 on Tuesday. US currency purchases by dealers, amounted to US$49.36 million on Wednesday, at an average rate of $124.35, compared to Tuesday, with US$49.13 million at $124.45.
On Wednesday at midday dealers purchased US$13.65 million at an average rate of J$124.76 and sold US$17.02 million at an average of J$125.61. At mid-day on Tuesday dealers purchased US$24.68 million at an average rate of J$125.07 while they sold US$11.56 million at an average of J$125.38.
Dealers’ purchased US$53.56 million, versus US$56.52 million on Tuesday in all currencies in Jamaica’s Forex market and sold US$63.79 million compared with US$55.93 million sold, previously.
The selling rate for the Canadian dollar declined to J$96.78 from J$97.49 at the close on Tuesday. The selling rate for the British Pound jumped to J$168.00 versus J$167.37 previously and the euro fell in value against the Jamaican dollar at J$149.28 to buy the European common currency, versus the prior selling rate of J$150.39.
US dollar selling pushes up rate
December 20, 2017 by
