Weekly net FX inflows up US$56m

Net inflows into foreign exchange for the week ended September 23, at US$56 million, that did not stop the Jamaican dollar from slipping during the week with all trading days enjoying net inflows. Trading on Friday was low with sale of US$19 million and purchased of US$28 million.
At the end of trading, dealers bought US$28,147,514 and sold only US$18,727,447 compared to US$62,853,963 purchased and US$45,692,310 sold on Thursday, of all currencies.
In US dollar trading, dealers bought US$23,819,249 compared to US$60,798,447 on Thursday. The buying rate for the US dollar dropped 46 cents to close at $127.25. A total of US$15,477,475 was sold versus US$44,844,532 on Thursday, with the selling rate falling 2 cents to end at $127.99. The Canadian dollar buying rate rose $1.56 to $96.52, with dealers buying C$2,265,065 and selling C$2,007,348 at an average rate that rose $1.64 to $96.64. The average rate for buying the British Pound climbed $1.33 to $164.28 for the purchase of £1,573,645 while only £702,124 was sold as the rate rose $1.66 to end at $166.28.
At the end of trading, dealers sold €695,295 as the selling rate for the Euro, jumped $2.50 from Thursday’s rate to close at J$144.97, according to data from Bank of Jamaica, dealers purchased €498,400 of the European common currency at J$142.99 for a climb of $5.37 from the rate on Thursday. The US dollar equivalent of other currencies traded, amounts to US$18,451 being bought, while US$18,999, was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Friday, include a drop of $15.10 in the lowest selling rate of the US dollar to end at $123.50. There was a rise of 99 cents in the highest buying rate for the Canadian Dollar to end at $99.49 and a jump of $1.08 in the lowest buying rate to $78.44, while the highest selling rate rose $1.40 to 102.05. Trading in the British Pound resulted in a rise of 83 cents in the lowest buying rate to close at $134.88, a climb of $1.30 in the highest selling rate to $173.34 while the lowest selling rate rose $1 to $159.70. Trading in the Euro resulted in a rise of $1 in the lowest buying rate to close at $115.54, a climb of $1.30 in the highest selling rate to $150.34 while the lowest selling rate rose $1 to $139.