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Feb 8: JMD trades at $121.44

Published:Monday | February 8, 2016 | 2:49 PM

The Jamaica dollar snapped its losing streak to regain almost five cents of value against the US dollar in trading Monday.

On Friday, the JMD sold for $121.49; today it closed trading at an average rate of $121.44 fuelled by market conditions in which demand from end users was well below foreign exchange sold into the system.

The JMD also gained 31 cents against the Canadian dollar to settle at $86.58, and 34 cents against the pound, to end at $173.68.

In the US dollar market, demand for hard currency was US$32.85 million, while traders bought up US$49.8 million.

business@gleanerjm.com