KINGSTON, Jamaica — The United States (US) dollar on Wednesday, August 7, ended trading at $157.80, up six cents from the previous close, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed the day at $113.78, compared with $115.17 at the previous close, while the British pound ended at $201.45, compared with $203.56 at the previous close.
The Jamaican dollar therefore gave up a little ground to the US dollar but gained noticeably against both the Canadian dollar and the pound sterling during the session. Taken together, the figures point to a mixed but broadly firmer day for the local unit outside the US-dollar market.
What it means for property buyers and the diaspora
For families in Toronto or London sending money home for a deposit or a monthly mortgage payment, a firmer Jamaican dollar against their currency means each transfer converts into slightly fewer Jamaican dollars. Buyers comparing listings quoted in US dollars will see little change from a six-cent move, but it is a reminder to fix the rate before closing on any purchase.
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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