KINGSTON, Jamaica — The United States (US) dollar on Monday, August 11, ended trading at $161.17, down 9 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $117.47, down from $118.49, while the British pound ended at $215.84, up from its previous close of $215.68.
The Jamaican dollar gained against the US and Canadian dollars and was little changed against the pound.
What it means for property buyers and the diaspora
Many diaspora visitors return home over the summer and use the trip to view land or sign sale agreements. When the Jamaican dollar firms, the US dollars or Canadian dollars they bring convert into slightly less local currency, so it is worth confirming whether a price is quoted in Jamaican or US dollars. Buyers paying closing costs in local currency may want to compare rates across a few days.
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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