KINGSTON, Jamaica — The United States (US) dollar on Monday, October 6, ended trading at $161.28, down 6 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $116.37, up from $115.84, while the British pound ended at $218.83, up from its previous close of $216.85.
The Jamaican dollar was little changed against the US currency but lost ground to both the Canadian dollar and the pound.
What it means for property buyers and the diaspora
The pound’s gain of almost two Jamaican dollars is good news for British-based Jamaicans planning a return home or investing in a rental unit, since each pound converted buys more locally. Canadian senders also came out slightly ahead. For buyers paying US-dollar rents or servicing US-dollar loans, the small move in the US rate means monthly costs were essentially unchanged in Jamaican-dollar terms.
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.
Follow Jamaica Homes on Youtube @jamaicahomes and Instagram @jamaica_homes and on Facebook @jamaicahomesnews Send us a message or email us at onlinefeedback@jamaica-homes.com or editor@jamaica-homes.com
Visit our YouTube Community ↗