KINGSTON, Jamaica — The United States (US) dollar on Monday, April 29, ended trading at $156.95, down 26 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $115.77, down from $116.20, while the British pound ended at $194.97, down from its previous close of $197.31.
All three major currencies weakened against the Jamaican dollar during the session, giving the local unit gains across the board.
What it means for property buyers and the diaspora
A firmer Jamaican dollar lowers, slightly, the local cost of imported building supplies and fittings priced in US dollars. For overseas buyers and families supporting relatives’ homes in Jamaica, remittances from the US, Canada and especially the UK converted into fewer Jamaican dollars on the day, which is worth keeping in mind when budgeting for deposits or repairs. Comparing the rate across several days before a large transfer can help reduce the impact of short-term swings.
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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