KINGSTON, Jamaica — The United States (US) dollar on Monday, December 2, ended trading at $157.51, up 25 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $111.91, down from $113.39, while the British pound sterling ended at $196.39, down from $201.92.
The Jamaican dollar lost ground to the US dollar but made sizeable gains against both the Canadian dollar and the pound.
What it means for property buyers and the diaspora
The day’s biggest story was the pound, which dropped more than $5 against the Jamaican dollar. UK-based Jamaicans funding a purchase, paying a contractor or covering stamp duty and transfer tax on a property back home would have received noticeably less local currency for each pound sent. US-based senders, by contrast, saw a small improvement, while anyone paying US-dollar rent in Kingston or on the north coast faced a slightly higher Jamaican-dollar equivalent.
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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