KINGSTON, Jamaica — The United States (US) dollar on Monday, April 15, ended trading at $156.23, up five cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $114.91, up from $113.45, while the British pound ended at $193.52, down from its previous close of $194.60.
The Jamaican dollar edged lower against the US dollar and weakened more noticeably against the Canadian dollar, while strengthening against the pound sterling.
What it means for property buyers and the diaspora
Canadian-based members of the diaspora saw their transfers convert into more Jamaican dollars on the day, helpful for anyone funding a deposit or construction payments. The five-cent US move makes little difference to US-dollar rents or mortgages, while UK senders received slightly less for each pound converted towards a property purchase or closing costs. Planning large transfers around the rate, where timing allows, can make a modest difference to the final budget.
Jamaica Homes News publishes regular foreign exchange updates to help buyers, sellers and overseas investors keep track of the rates that shape the cost of property and construction in Jamaica.
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