KINGSTON, Jamaica — The United States (US) dollar on Tuesday, August 20, ended trading at $158.43, up 44 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $116.23, down from $116.24, while the British pound sterling ended at $203.57, up from $201.64.
The Jamaican dollar weakened against the US dollar and the pound, while holding virtually steady against the Canadian dollar.
What it means for property buyers and the diaspora
A 44-cent rise in the US dollar and a near-$2 gain for the pound gave remittance senders in the United States and the UK more Jamaican dollars for every transfer, helpful for anyone covering a deposit or ongoing closing costs. Local developers and homeowners carrying out renovations may feel the other side of the move, as imported materials priced in US dollars become slightly more expensive in Jamaican-dollar terms.
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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