KINGSTON, Jamaica — The United States (US) dollar on Monday, May 13, ended trading at $157.03, up 20 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $115.23, barely changed from $115.22, while the British pound ended at $195.90, down from its previous close of $196.61.
The Jamaican dollar weakened against the US dollar and was essentially flat against the Canadian dollar, while gaining against the pound sterling.
What it means for property buyers and the diaspora
A 20-cent rise in the US rate gives diaspora buyers in the United States slightly more purchasing power when sending deposits or monthly contributions towards a home. Local buyers paying for imported building materials or US-dollar-priced services face a small increase, while senders in the United Kingdom received fewer Jamaican dollars per pound on the day. Setting aside a modest margin for currency movements is a sensible habit for any cross-border property 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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