US$8.5m surplus leads to J$ fall – Friday

The Jamaican foreign exchange market delivered another big net take with US$11 million net intake for all currencies with the united States dollar delivering a surplus of $8.5 million. The increase net inflows did not prevent the Jamaican dollar from falling as the rate to purchase the US dollar increased.
Friday’s net inflows brought the excess for the week to US$41 million, with each day of the week generating surpluses. At the end of trading, the equivalent of all currencies bought by dealers amounted to US$44,607,197, while US$33,628,271 was sold compared to US$25,142,251 purchased and US$21,013,454 sold on Thursday.
In US dollar trading, dealers bought US$39,865,665 compared to US$21,513,397 on Thursday. The buying rate for the US dollar climbed 35 cents to close at $127.81. A total of US$31,296,438 was sold versus US$18,393,384 on Thursday, with the selling rate rising 9 cents to end at $128.37. The Canadian dollar buying rate fell $1.03 to $95.80, with dealers buying C$1,797,979 and selling C$1,566,519 at an average rate that fell 17 cents to $97.38. The average rate for buying the British Pound fell 26 cents to $159.48 for the purchase of £1,948,854 while £760,078 was sold at a rate that dipped $1.56 to end at $161.63.
At the end of trading, dealers sold €162,090 as the selling rate for the Euro, closed at $144.97 for fall of $2.12 from Thursday’s rate, according to data from Bank of Jamaica. Dealers purchased €856,872 of the European common currency at $142.26 after rising $2.61 from the rate on Thursday. The US dollar equivalent of other currencies traded, amounts to US$8,518 being bought and selling of US$3,345.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies in the foreign exchange market on Friday, include a jump of $21.08 in the lowest selling rate of the US Dollar to end at $125. The highest buying rate of the Canadian dollar dropped $2.70 to $97.80, while the highest selling rate dived $3.70 to $101 and the lowest selling rate rose $1 to $93. The highest buying rate of the British Pound nosedived $7.80 to $162.85, the lowest buying rate dropped $4.40 to $130.31, the highest selling rate collapsed by $5.72 to $169.56 and the lowest selling rate dived $5 to $155.50. Trading in the Euro resulted in a fall in the highest buying rate of $2.20 to $142.80 and the lowest selling rate jumped $20.87 to $135.40.