US$10 million more on Friday

Trading in Jamaica’s foreign exchange market saw another day when more purchases of the all foreign exchange currencies exceeded sales, with the net intake on Friday, being US$10 million and with the net US dollar currency intake being US$9 million. The positive net inflows did not stop the rate for selling the US dollar from rising by 11 cents.
In Friday’s trading, dealers bought US $37,477,625 and sold only US$27,548,721 compared to US$25,525,850 purchased and a mere US$18,693,739 sold on Thursday, of all currencies.
In US dollar trading, dealers bought US$34,686,488 compared to US$23,108,190 on Thursday. The buying rate for the US dollar rose 12 cents to close at $127.09. A total of US$25,787,049 was sold versus just US$17,244,935 on Thursday, with the selling rate rising 11 cents to end at $127.72. The Canadian dollar buying rate declined by 86 cents to $95.95, with dealers buying C$1,510,410 and selling C$1,022,589 at an average rate that declined by 49 cents to $97.85. The average rate for buying the British Pound dropped 39 cents to $165.60 for the purchase of £1,193,309 while only £601,003 was sold with the rate rising 15 cents to end at $169.99. At the end of trading, the selling rate for the Euro, fell $1.24 to close at J$144.88 from Thursday’s rate, according to data from Bank of Jamaica, dealers purchased the European common currency at J$139.83 for a rise of $1.75 from the rate on Thursday. The US dollar equivalent of other currencies traded amounts to US$95,963 being bought, while US$178,310, was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Thursday, include a drop of $3.59 in the highest buying rate for the Canadian Dollar to end at $98.41, a rise in the lowest selling rate of $1.80 to settle at $94.80. Trading in the British Pound resulted in a rise of $1.25 in the highest buying rate to close at $171.40 and a big dive of $24.04 in the lowest selling rate to $117.46.