KINGSTON, Jamaica — The United States (US) dollar on Monday, May 12, ended trading at $159.98, down 20 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $114.52, down from $115.40 at the previous close, and the British pound ended at $212.00, down from $212.29.
The Jamaican dollar strengthened against all three major currencies on the day.
What it means for property buyers and the diaspora
A broadly firmer Jamaican dollar is good news for anyone paying for imported goods. Developers ordering steel, glass and fittings priced in US dollars saw a small saving, and households with US dollar mortgage payments needed slightly fewer Jamaican dollars to meet them. For the diaspora, the picture is reversed: remittances from the United States, Canada and Britain all converted into a little less local currency, which may matter to families timing a transfer for a deposit or a completion payment.
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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