US$11m surplus in FX market – Wednesday

The Jamaican foreign exchange market closed on Wednesday with buying volume again exceeding selling by US$11 million. At the close of trading, the Jamaican dollar’s lost value versus the main currencies it normally trades with.
At the end of trading, the equivalent of all currencies bought by dealers amounted to US$44,066,825, while US$32,829,162 was sold, compared to US$53,538,216 purchased and US$39,425,182 sold on Tuesday.
In US dollar trading, dealers bought US$37,397,500 compared to US$50,287,877 on Tuesday. The buying rate for the US dollar rose 3 cents to close at $128.20. A total of US$28,637,721 was sold versus US$38,236,358 on Tuesday, with the selling rate rising 3 cents to end at $128.92. The Canadian dollar buying rate jumped $3.57 to $98.27, with dealers buying C$4,553,605 and selling C$4,076,108 at an average rate that rose $2.01 to $99.16. The average rate for buying the British Pound jumped $1.12 to $155.05 for the purchase of £1,528,215 while £344,279 was sold at a rate that rose $1.16 to end at $157.33.
At the end of trading on Wednesday, dealers sold €404,779 as the selling rate for the Euro, closed at $141.79 for gain of 13 cents, according to data from Bank of Jamaica. Dealers purchased €386,294 of the European common currency at $141.52 after climbing $6.53. The US dollar equivalent of other currencies traded, amounts to US$904,247 being bought and selling of US$190,700.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies in the foreign exchange market on Wednesday, include a rise of $1.90 in the highest buying rate of the US Dollar to $129.95 and a gain of $20.50 in the lowest selling rate to end at $124.50. The lowest selling rate of the Canadian dollar climbed $2 to $95. The highest buying rate of the British Pound dropped $12.15 to $158.55, the lowest buying rate lost $9.13 to $126.99, the highest selling rate declined $12.66 to $164.46 and the lowest selling rate dived $9.80 to $151.20. Trading in the Euro resulted in a fall of $2.20 in the highest buying rate to $142.80, the lowest buying rate fell $1.45 to $113.71, the highest selling rate dropped $6.64 to $143.21 and the lowest selling rate jumped $22.47 to $137.