KINGSTON, Jamaica — The United States (US) dollar on Tuesday, May 27, ended trading at $159.83, down 40 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $116.18, down from $116.82 at the previous close, while the British pound ended at $218.88, up from $216.45.
The Jamaican dollar strengthened against the US and Canadian dollars on the day but lost ground to the pound.
What it means for property buyers and the diaspora
A 40-cent gain for the Jamaican dollar trims the local cost of goods priced in US dollars, from imported doors and windows to air-conditioning units for a new build. Borrowers servicing US dollar loans also get a small reprieve. It was a better day for UK-based Jamaicans, whose pounds bought more local currency, making it a favourable moment to send funds for a deposit, surveyor’s fees or ongoing 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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