KINGSTON, Jamaica — The United States (US) dollar on Monday, June 30, ended trading at $160.36, down 46 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $119.36, compared with $118.24 at the previous close, and the British pound ended at $218.99, down from $219.78.
The Jamaican dollar strengthened against both the US dollar and sterling on the day, while weakening against the Canadian currency.
What it means for property buyers and the diaspora
For homeowners carrying US dollar mortgages, a 46-cent move in the local currency’s favour slightly reduces the Jamaican dollar cost of each monthly instalment. Contractors importing roofing sheets, plumbing and electrical supplies priced in US dollars also benefit modestly. Diaspora relatives in the United States, however, will find their remittances stretch a touch less, while Canadian senders funding renovations or legal fees back home got a little more for their money.
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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