KINGSTON, Jamaica — The United States (US) dollar on Monday, July 28, ended trading at $161.16, down 13 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $118.08, up from $117.90, while the British pound ended at $215.60, down from its previous close of $219.30.
The Jamaican dollar firmed against the US dollar and gained markedly against the pound, while easing slightly against the Canadian dollar.
What it means for property buyers and the diaspora
The pound’s slide of nearly four Jamaican dollars is significant for the UK diaspora: on a £50,000 deposit, the difference from the previous close is roughly J$185,000. Buyers converting sterling may want to track the rate before committing. Canadian senders were largely unaffected, while local purchasers of US-priced building supplies, from PVC pipes to roofing sheets, saw a marginal saving.
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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