KINGSTON, Jamaica — The United States (US) dollar on Wednesday, September 4, ended trading at $158.43, up 18 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $117.51, up from $116.47, while the British pound sterling ended at $207.90, up from $205.36.
The Jamaican dollar weakened against all three currencies, giving up the most ground to the pound and the Canadian dollar.
What it means for property buyers and the diaspora
Diaspora families in the UK and Canada had a good day to send money home: the pound gained more than $2.50 and the Canadian dollar more than $1 against the Jamaican dollar. That extra value can go towards a deposit, attorney’s fees or a building project. Local buyers paying for imported materials or making US-dollar loan repayments, however, saw their Jamaican-dollar costs tick up.
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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