KINGSTON, Jamaica — The United States (US) dollar on Tuesday, November 5, ended trading at $159.21, up nine cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $114.84, up from $114.02, while the British pound sterling ended at $206.96, up from $204.96.
The Jamaican dollar weakened against all three major currencies on the day.
What it means for property buyers and the diaspora
A broadly softer Jamaican dollar is good news for anyone earning abroad and spending at home. Diaspora buyers in the US, Canada and the UK all received a little more local currency per transfer, which helps when topping up a deposit or paying a contractor’s next instalment. Local buyers with US-dollar mortgages or leases, though, will see those payments cost slightly more 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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