KINGSTON, Jamaica — The United States (US) dollar on Tuesday, April 22, ended trading at $159.06, up 47 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar ended at $114.70, down from $115.26 at the previous close, while the British pound closed at $211.30, up from $210.37.
The Jamaican dollar weakened against the US dollar and sterling in the first session after the Easter holidays, but firmed against the Canadian dollar.
What it means for property buyers and the diaspora
The post-holiday jump in the US rate raises the local cost of imported construction supplies and of any purchase price or deposit set in US dollars. Borrowers with US dollar mortgages will feel it in their next instalment. For relatives abroad, the move is welcome: US and UK remittances now buy more Jamaican dollars, which can help cover the gap on a property purchase or pay for materials on a family home under construction.
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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