KINGSTON, Jamaica — The United States (US) dollar on Monday, June 9, ended trading at $160.92, up 59 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar ended trading at $118.45, down from $119.23 at the previous close, while the British pound closed at $218.18, up from $217.47.
The Jamaican dollar weakened noticeably against the US dollar and the pound, though it strengthened against the Canadian dollar.
What it means for property buyers and the diaspora
A 59-cent move in a single session is a meaningful one for anyone budgeting in US dollars. Landlords who quote rents in US dollars to expatriate tenants will see those rents worth more in local terms, while local buyers facing US dollar-denominated closing costs or developer instalments will pay more. Remittances from the United States and the UK go further after a day like this, which may be a good moment for diaspora families to move funds earmarked for a deposit.
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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