KINGSTON, Jamaica — The United States (US) dollar on Monday, December 9, ended trading at $156.99, up 46 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $112.71, compared with $111.73 previously, while the British pound sterling ended at $199.03, down from $200.26.
The Jamaican dollar weakened against the US and Canadian dollars but gained against the pound, making for a mixed day.
What it means for property buyers and the diaspora
A 46-cent rise in the US dollar is a notable single-day move. For developers and self-builders, it nudges up the Jamaican-dollar cost of imported steel, lumber and plumbing supplies that are invoiced in US currency. Remittance senders in the United States and Canada, meanwhile, got a slightly better conversion on money sent home towards deposits, repairs or monthly mortgage instalments.
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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