FOREIGN EXCHANGE users paid an average of 30 Jamaican cents more to buy a United States dollar in currency trading, yesterday. The Jamaican dollar exchange rate against the United States dollar was $53.25. This was a loss of 30 cents from the position on Friday, when users paid an average of $52.95 to buy a US dollar.
This was the first time the exchange rate against the US dollar fell below $53. The selling price is the price at which institutions sell the currency to users. Institutions purchased the US currency at an average of $52.95 to the US dollar, down 22 cents from the position on Friday
Some foreign exchange users paid a rate as high as $53.70 for their US dollars yesterday, also representing a new low rate for the currency.
The exchange rate against the Canadian dollar yesterday was an average of $34.44, down 16 cents while the British pound sold at $87.04, a gain of 41 cents.
