KINGSTON, Jamaica — The United States (US) dollar on Thursday, January 30, ended trading at $157.82, down 23 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $110.10, down from $111.13 at the previous close, while the British pound ended at $195.38, down from $198.57.
The Jamaican dollar strengthened against all three major currencies, gaining most against the pound.
What it means for property buyers and the diaspora
A broad rally in the Jamaican dollar lowers the local price of imported building supplies and eases the burden for anyone servicing a loan or paying rent in US dollars. It is less welcome news for remittance-reliant households and overseas buyers: a pound sent from the UK bought over $3 less than at the previous close, and US and Canadian transfers also converted into fewer Jamaican dollars for deposits, fees or construction draws.
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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