KINGSTON, Jamaica — The United States (US) dollar on Monday, October 7, ended trading at $158.74, down 15 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $117.11, down from $117.53, while the British pound sterling ended at $207.68, down from $209.22.
The Jamaican dollar strengthened against all three currencies, gaining most against the pound.
What it means for property buyers and the diaspora
A firmer Jamaican dollar slightly lowers the local-currency cost of imported inputs, from roofing sheets to kitchen cabinetry, which can help contractors hold their quotes steady. Tenants paying rent in US dollars also benefit marginally. For diaspora buyers, especially those in the UK, the move meant each transfer bought fewer Jamaican dollars, so it may be worth watching the rate before converting a large sum for a closing.
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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