KINGSTON, Jamaica — The United States (US) dollar on Monday, September 1, ended trading at $160.87, down 22 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $117.30, down from $119.05, and the British pound ended at $217.30, down from its previous close of $217.97.
All three major currencies weakened against the Jamaican dollar, a firm start to September for the local unit.
What it means for property buyers and the diaspora
The start of a new month is when many overseas Jamaicans send regular support home, and some of that money goes towards land payments, mortgage instalments or a relative’s construction project. On this day those transfers converted into slightly fewer Jamaican dollars from every major source market. Contractors settling US-dollar invoices for imported windows, doors and tiles, however, saw a small 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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