KINGSTON, Jamaica — The United States (US) dollar on Monday, February 24, ended trading at $158.06, down 9 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $112.39, down from $113.06 at the previous close, while the British pound ended at $199.11, down from $200.52.
The Jamaican dollar gained against all three major currencies on the day.
What it means for property buyers and the diaspora
A firmer Jamaican dollar lowers the local cost of anything priced in foreign currency, from imported roofing and windows to US dollar-denominated rent on a furnished apartment. Homeowners repaying loans in US dollars benefit slightly. On the other side, families abroad sending support for a deposit or construction costs, whether from the United States, Canada or Britain, received a little less in Jamaican dollars than at the previous close.
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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