KINGSTON, Jamaica — The United States (US) dollar on Monday, October 13, ended trading at $161.85, up 23 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $116.33, up from $115.47, while the British pound ended at $215.18, down from its previous close of $216.26.
The Jamaican dollar weakened against the US and Canadian dollars but firmed against the pound, a mixed day for the local currency.
What it means for property buyers and the diaspora
Homeowners and small developers who price construction jobs off imported inputs will notice when the US rate ticks up, as steel, electrical wiring and tiles are typically bought in US dollars. On the other hand, diaspora buyers in the United States and Canada saving towards a deposit or stamp duty and transfer tax saw their money convert into slightly more Jamaican dollars than at the previous close.
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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