US$8m surplus in FX market – Friday

The Jamaican foreign exchange market closed on Friday with buying volume US$8 million more than the amount sold by dealers. At the close of trading, the Jamaican dollar’s lost value against the US dollar, the Pound and the Canadian dollar but gained against the euro.
At the end of trading, the equivalent of all currencies bought by dealers amounted to US$27,764,103, while US$19,940,807 was sold, compared to US$46,893,091 purchased and US$44,516,844 sold on Thursday.
In US dollar trading, dealers bought US$24,043,908 compared to US$44,920,559 on Thursday. The buying rate for the US dollar fell by 38 cents to close at $127.92. A total of US$18,470,128 was sold versus US$43,323,564 on Thursday, with the selling rate rising 9 cents to end at $128.82. The Canadian dollar buying rate rose $1.50 to $95.46, with dealers buying C$1,709,934 and selling C$598,085 at an average rate that rose 46 cents to $97.09. The average rate for buying the British Pound gained 92 cents to $155.26 for the purchase of £1,896,234 while £745,879 was sold at a rate that rose 1 cent to end at $156.45.
At the end of trading on Friday, dealers sold €89,708 as the selling rate for the Euro, closed at $141.86 for fall of $1.09, according to data from Bank of Jamaica. Dealers purchased €120,458 of the European common currency at $136.98 after gaining 36 cents. The US dollar equivalent of other currencies traded, amounts to US$13,466 being bought and selling of US$15,296.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies in the foreign exchange market on Friday, include a drop of $20.26 in the lowest selling rate of the US Dollar to end at $104.54. The lowest selling rate of the Canadian dollar fell $1.20 to $93. The highest buying rate of the British Pound dropped $2.13 to $157.35, the lowest buying rate climbed $1.03 to $127.61, the highest selling rate rose 83 cents to $166.05 and the lowest selling rate dipped $2.20 to $150. Trading in the Euro resulted in a fall of $1.60 in the highest buying rate to $140, the highest selling rate climbed $3.54 to $149.04 and the lowest selling rate climbed $2 to $138.