The US dollar on Thursday, October 20, ended trading at J$129.15, up by 23 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
Meanwhile, the Canadian dollar ended trading at J$98.08, down from J$99.16, while the British pound sterling ended trading at J$158.10, up from J$157.33.
* Sept forex sales tripled from August's $9.5 bln
* SAFE says higher capital outflows mostly due to seasonal factors
* Capital outflows put pressure on yuan currency
BEIJING, Oct 21 Net foreign exchange sales by China's commercial banks in September tripled to $28.4 billion from the previous month as capital outflows increased, the country's foreign exchange regulator said on Friday.The August net sales were $9.5 billion, which were a sharp drop from $31.7 billion in July.
For the January to September period, net forex sales stood at $243.4 billion, the State Administration of Foreign Exchange (SAFE) said in a statement.But SAFE spokeswoman Wang Chunying said an increase in net capital outflows from China in the third quarter from the second was mostly due to seasonal factors.China's cross-border capital flows should be basically stable in the future, Wang told a news conference.
Earlier data indicated China's central bank sold a net $50.1 billion worth of foreign exchange in September, the highest in eight months, as it sought to support the weakening yuan as capital outflows picked up.Foreign exchange reserves fell for a third straight month in September and by slightly more than markets had expected, suggesting fresh outflows.
The yuan has lost nearly 3.8 percent against the dollar so far this year, making it one of the worst performing currencies in Asia
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