KINGSTON, Jamaica — The United States (US) dollar on Monday, May 5, ended trading at $159.49, up 2 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $115.60, down from $116.58 at the previous close, while the British pound ended at $210.85, down from $213.18.
The Jamaican dollar held steady against the US dollar and gained meaningfully against the Canadian dollar and sterling.
What it means for property buyers and the diaspora
With the US rate barely moving, local buyers and builders pricing materials off the US dollar saw little change. The bigger story was for Jamaicans in the UK and Canada: the pound fell by more than $2 and the Canadian dollar by nearly $1, so money sent home for a deposit, legal fees or a relative’s roof repair converted into noticeably less. Those with flexibility on timing may prefer to watch for a rebound before transferring large sums.
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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