US$11.5m more sold than purchased – Wednesday

Dealers in the forex market sold over US$11.5 million more than they bought on Wednesday in all currencies as the local currency selling rate for the US dollar increased by 5 cents.
The foreign exchange market closed on Wednesday, with dealers buying the equivalent of US$28,237,528 and selling US$39,830,039, in contrast to US$47,052,554 purchased and US$42,436,572 sold on Tuesday.
In US dollar trading, dealers bought US$26,160,433 compared to US$44,115,520 on Tuesday, as the buying rate for the US dollar declined by 10 cents to $124.62. A total of US$38,578,531 was sold versus US$40,688,761 on Tuesday with the selling rate rising 6 cents to $125.47. The Canadian dollar buying rate fell 80 cents to end at $92.37 with dealers buying C$793,330 and selling C$436,850, at an average rate that fell 42 cents to $94.45. The rate for buying the British Pound dropped $1.76 to $177.35 for the purchase of £1,003,394, while £556,923 was sold, with the rate gaining 55 cents to $180.91.
At the end of trading, the selling rate for Euro, fell 13 cents to close at J$139.61 from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$136.77, for a rise of 21 cents on Tuesday’s rate. The US dollar equivalent of other currencies traded amounts to US$61,198 being bought, while US$119,605 was sold.
Highs & Lows| Notable changes to the highest and lowest rates, the Jamaican dollar traded at, in the foreign exchange market on Wednesday, include, a rise of $19.23 in the lowest selling rate of the US Dollar to $121.35, a fall of $3.22 in the highest buying rate of the Canadian Dollar to $94.40 while the highest buying rate for the British Pound fell by $2.90 to $182.15 and the lowest selling rate rose $1 to $173.