KINGSTON, Jamaica — The United States (US) dollar on Monday, March 17, ended trading at $157.46, up 12 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $110.03, down from $110.08 at the previous close, and the British pound ended at $201.02, down from $206.49.
The Jamaican dollar slipped slightly against the US dollar, was nearly flat against the Canadian dollar and gained strongly against the pound.
What it means for property buyers and the diaspora
The pound’s drop of almost $5.50 is the headline for UK-based Jamaicans. Anyone planning to send sterling to cover a purchase deposit, transfer tax or a builder’s next stage payment would receive noticeably fewer Jamaican dollars than at the previous close. For US-based buyers, the small rise in the US rate is a mild positive, while local developers importing materials priced in US dollars face only a marginal increase in costs.
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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