KINGSTON, Jamaica — The United States (US) dollar on Tuesday, July 23, ended trading at $157.19, up 14 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $114.77, down from $115.48, while the British pound ended at $202.80, down from its previous close of $203.79.
The session was mixed for the Jamaican dollar, which slipped against the US dollar but strengthened against both the Canadian dollar and the pound sterling.
What it means for property buyers and the diaspora
Homeowners and investors who pay rent or mortgage instalments in US dollars felt a small increase in their Jamaican-dollar cost on the day, while contractors buying imported materials faced marginally higher prices. Senders in Canada and the United Kingdom, meanwhile, saw their transfers buy a little less in Jamaica, which matters most for larger sums such as closing costs. Over a full purchase, even small daily movements can add up to a meaningful sum.
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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