Jamaican dollar makes more gains

NCB had the highest net sale of US$ on Friday

The rate of exchange for the United States and Jamaican dollar inched further in favour of the local currency on Friday as dealers sold US$42.2 million at an average rate of $127.99 on Friday, down from an average of 128.126 with the sale of $67 million on Thursday.
On Friday, dealers bought US$37.38 million at an average of $126.74, a decline from $127.38 with the buying of US$61 million on Thursday.
Dealers bought $45,56 million in all currencies on Friday and sold US$50.28 million compared to purchases of US$77.6 million and sale of US$82.5 million on Thursday. Thursday’s trading includes the buying of Can$19.7 million and sale of Can$19.4 million.
Major net sellers of US dollars on Thursday are, Citibank with the purchase of US$160,000 and sale of US$1.65 million, First Global Bank buying US$271,000 and selling US$1.96 million. JMMB Bank ended with the buying of US$839,000 and selling $3.6 million, JN Bank purchased $868,000 and sold $2.48 million, Victoria Mutual Building Society bought $720,000 and sold of $2.45 million but First Caribbean purchased $5.6 million and sold just $1.38 million.
On Friday, Bank of Nova Scotia purchased $9.2 million and sold just $5 million, First Caribbean Bank bought US$813,000 and sold US$1.3 million, JMMB Bank ended buying US$1.87 million and sold $4.8 million, JN Bank purchased $1.16 million with sales of $1.87 million. National Commercial bought US$3.56 million and sold $8.5 million, Sagicor Bank bought $852,000 while selling US$1.99, Victoria Mutual Building Society purchased $693,000 and sold $1.3 million but Citibank purchased US$1.7 million and sold just US$587,000.

$m in dormant accounts for Government

Government of Jamaica could end up getting several million dollars that currently sits in dormant accounts in the country’s banks without any transactions since 2001.
The amounts go from a high of $7 million for a resident of Christiana in Manchester to a low of a few dollars and is followed by an account with $3.26 million, for a resident of Clarendon, two accounts of more than $1 million each are listed and 3 in excess of J$853,000. Also included is an amount of US$27,022 for a resident of Hartford, Connecticut ,USA with the list including amounts of US$15,760, one for US$13317, US$ 11,857 and US$11,497.
The list which includes accounts for Bank of Nova Scotia, Citibank, First Global and Sagicor Bank, comprises around 15,000 accounts and is published in the Saturday Gleaner.
According to the notice, depositors have one year to claim the amounts, failing which they will be forfeited by the state.