KINGSTON, Jamaica — The United States (US) dollar on Tuesday, October 21, ended trading at $160.77, down 32 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $116.98, up from $116.41, while the British pound ended at $216.49, down from its previous close of $218.48.
The Jamaican dollar strengthened against the US dollar and the pound, giving up a little ground only to the Canadian dollar in the first session after the National Heroes Day holiday.
What it means for property buyers and the diaspora
For a buyer whose purchase price or mortgage is set in US dollars, a 32-cent move is small on a single payment but meaningful across a large transaction; on a US$100,000 purchase it shifts the local-currency equivalent by roughly J$32,000. Developers importing fixtures and finishes benefit slightly from the firmer rate, while UK-based investors saw their pounds buy a little less.
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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