KINGSTON, Jamaica — The United States (US) dollar on Monday, November 24, ended trading at $161.05, compared with $160.65 at the previous close, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $115.49, up from $114.95, while the British pound ended at $212.85, up from its previous close of $210.75.
All three major currencies gained against the Jamaican dollar, leaving the local unit weaker across the board on the day.
What it means for property buyers and the diaspora
A softer Jamaican dollar works in favour of overseas Jamaicans: remittances from the US, Canada and the UK all converted into more local dollars than at the previous close, useful for families funding roof repairs or topping up a deposit. The flip side is that imported building materials, many priced in US dollars, become a little more expensive at a time when demand for rebuilding supplies after Hurricane Melissa remains high.
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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