There continues to be net selling of foreign currencies in the system, with net sales on Tuesday, reaching the highest level in recent days, with net sales of US$28 million. Purchases of all currencies by dealers amounted to US$38,377,465 equivalent, compared with US$47,949,340, on Monday and selling of the equivalent of US$66,929,309 versus US$41,988,424 on the previous trading day.
In US dollar trading, dealers bought US$34,755,724 compared to US$43,517,411 on Monday. The buying rate for the US dollar was unchanged at $114.65 and US$64,588,710 was sold versus US$40,670,316 on Monday, the selling rate slipped 2 cents to end at $115.13. The Canadian dollar buying rate rose 4 cents to $89.65 with dealers buying C$1,046,278 and selling C$861,133, at an average rate that climbed 72 cents to $91.89. The rate for buying the British Pound rose 42 cents to $169.31 for the purchase of £1,764,250, while £974,090 was sold, at an average rate of $170.63, for a fall of 50 cents. At the end of trading it took J$125.82 to purchase the Euro, $1.48 more than on Monday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$123.40 for an increase of $1.43 over Monday’s rate. Other currencies bought, amounted to the equivalent of US$198,339 while the equivalent of US$209,741, was sold.
Highs & Lows| The highest buying rate for the US dollar, moved up $1.05 to $116.80. The lowest buying, highest selling and the lowest selling rates remained at $93.94, $120.37 and $93.94 respectively. The highest buying rate for the Canadian dollar dipped 5 cents to $91.75, the lowest buying rate rose 17 cents to $71.63, but the highest selling rate rose 33 cents to $94.48 and the lowest selling rate rose $1 to $87.30. The highest buying rate for the British Pound, fell 20 cents to $171.30. The lowest buying rate rose 46 cents to $137.20, the highest selling rate gained 59 cents to $176.87 and the lowest selling rate rose 55 cents to $165.30.
US$28 million sell off on Tuesday
March 24, 2015 by
