KINGSTON, Jamaica — The United States (US) dollar on Thursday, June 27, ended trading at $156.71, down 13 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $115.17, down from $115.84, while the British pound ended at $198.77, down from its previous close of $200.45.
All three major currencies weakened against the Jamaican dollar during the session, giving the local unit a lift across the board.
What it means for property buyers and the diaspora
A broad gain for the Jamaican dollar is mildly helpful for anyone buying imported fixtures, roofing or tiles priced in foreign currency. Overseas investors funding a purchase, paying property taxes or covering maintenance on a rental home in Jamaica, however, receive fewer Jamaican dollars for each US dollar, Canadian dollar or pound they send. Builders pricing jobs over several months often build a small currency buffer into their quotes for exactly this reason.
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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