KINGSTON, Jamaica — The United States (US) dollar on Thursday, July 4, ended trading at $157.09, down 21 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $113.87, compared with $117.86 at the previous close, while the British pound ended at $198.02, up from $197.30.
The Jamaican dollar strengthened against the US and Canadian dollars on the day but slipped against the pound sterling.
What it means for property buyers and the diaspora
Buyers based in the United Kingdom sending deposits or legal and closing costs to Jamaica would have seen their pounds go slightly further on the day, while those converting US or Canadian dollars received a little less. Locally, the firmer rate against the US dollar marginally eases the cost of imported building materials and appliances for projects under way. Contractors quoting fixed prices for longer projects may also watch these moves closely.
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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