KINGSTON, Jamaica — The United States (US) dollar on Monday, June 23, ended trading at $160.95, up 2 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar ended trading at $117.29, down from $117.96 at the previous close, while the British pound closed at $216.51, up from $216.32.
It was a largely flat day for the Jamaican dollar, which slipped fractionally against the US dollar and the pound but gained against the Canadian dollar.
What it means for property buyers and the diaspora
Moves this small rarely change the arithmetic on a property deal, but they add up over a purchase that takes months to complete. Buyers in the United States who are converting savings in stages for a deposit and stamp duty may want to track the trend rather than any single day. Canadian-based Jamaicans sending funds for construction draws saw their dollars buy slightly less, while suppliers quoting imported tiles and cabinetry in US dollars were essentially unchanged.
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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