KINGSTON, Jamaica — The United States (US) dollar on Monday, May 19, ended trading at $159.70, up 54 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar ended trading at $113.34, down from $115.21 at the previous close, and the British pound closed at $211.74, up from $211.70.
The Jamaican dollar lost ground to the US dollar, was essentially flat against the pound and gained firmly against the Canadian dollar.
What it means for property buyers and the diaspora
The US dollar’s 54-cent rise makes imported building inputs, many of which are invoiced in US dollars, slightly dearer for local developers and self-builders. For Jamaicans in the United States, it is a modestly better day to convert savings for a deposit or closing costs. Canadian senders fared worse, with the loonie buying almost $1.90 less than at the previous close, which matters for anyone paying a contractor in instalments from Canada.
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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