US$ sales exceed purchases – Friday

The buying and selling in the forex market on Friday resulted slightly more selling by dealers than the amounts bought in all currencies but sale of US dollars exceeded inflows by US$3 million, helping the selling rate of the US dollar, to continue to gain on the Jamaican currency.
The foreign exchange market closed on Friday, with dealers buying the equivalent of US$31,515,940 and selling US$33,499,897, in contrast to US$32,911,167 purchased and US$33,802,996 sold on Thursday
In US dollar trading, dealers bought US$27,698,434 compared to US$28,031,398 on Thursday as the buying rate for the US dollar remained unchanged at $124.75. A total of US$30,645,567 was sold versus US$31,006,313 on Thursday with the selling rate rising 6 cents to $125.56. The Canadian dollar buying rate fell $1.17 to end at $92.28 with dealers buying C$691,476 and selling C$516,501, at an average rate that climbed by 88 cents to $96.11. The average rate for buying the British Pound climbed $1.04 to $179.34 for the purchase of £1,920,291, while £1,270,603 was sold, with the rate rising $1.11 to $181.05.
At the end of trading, the selling rate for Euro, fell by 12 cents to close at J$140.06 from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$137.13, for a fall of 2 cents on Thursday’s rate. The US dollar equivalent of other currencies traded amounts to US$545,285 being bought, while US$626,785 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 rise of $18.88 in the lowest selling rate of the US Dollar to $121, a rise of $1.60 in the highest buying rate of the Canadian Dollar to $97.50 and the highest buying rate for the British Pound increasing by $2.51 to $183.81.