KINGSTON, Jamaica — The United States (US) dollar on Tuesday, June 4, ended trading at $156.27, up 12 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $114.63, down from $115.19, while the British pound ended at $198.77, up from its previous close of $198.36.
The Jamaican dollar weakened against the US dollar and the pound sterling on the day but strengthened against the Canadian dollar.
What it means for property buyers and the diaspora
Diaspora buyers in the United States and the United Kingdom received a few more Jamaican dollars for each transfer, which helps when funding a deposit or paying stamp duty and closing costs. Canadian senders saw the opposite. For homeowners with US-dollar mortgages or rents, the small rise adds marginally to the Jamaican-dollar cost of each payment. Small shifts in the rate can change the final figure on a large transfer by thousands of Jamaican dollars.
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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