Trading in the foreign exchange market saw a big jump in both buying and selling volumes as the Jamaican dollar slipped against all it major peers. Purchases of all currencies by dealers amounted to US$78,256,318 equivalent, compared with US$45,348,873, on Monday and selling of the equivalent of US$81,132,131 versus sale of US$39,052,916, previously.
In US dollar trading, dealers bought US$75,998,214 compared to US$40,589,132 on Monday. The buying rate for the US dollar rose 36 cents to $115.54 and US$79,709,830 was sold versus US$36,727,675 on Monday, the selling rate was up 2 cents to $115.76. The Canadian dollar buying rate fell 76 cents to $93.43 with dealers buying C$1,081,653 and selling C$723,573, at an average rate that rose 12 cents to $95.55.
The rate for buying the British Pound fell 67 cents to $172.32 for the purchase of £876,475, while £490,547, was sold, at an average rate that inched up 10 cents to $174.81. At the end of trading it took J$129.18 to purchase the Euro, 70 cents less than on Monday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$126.63 for a fall of 72 cents from Monday’s rate. Other currencies bought, amounted to the equivalent of US$76,311, while the equivalent of US$84,322, was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 10 cents to $116.20. The lowest buying rate remained at $94.36 and highest selling rate rose 32 cents $121.23, with the lowest selling rate jumping $19.36 to $113.30. 
The highest buying rate for the Canadian dollar fell $1 to $96. The lowest buying rate was unchanged at $75.36, the highest selling rate rose 68 cents to $98.18 and the lowest selling rate gained 20 cents to $91. The highest buying rate for the British Pound, declined 50 cents to $175.50, the lowest buying rate dipped 33 cents to $140.44, the highest selling rate declined $2.64 to $178.83 with the lowest selling rate falling 40 cents to $169.20.
US$78m bought US$81m sold Tuesday
May 5, 2015 by
