KINGSTON, Jamaica — The United States (US) dollar on Monday, December 8, ended trading at $161.02, down 5 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $116.62, up from $116.21, while the British pound ended at $215.66, up from its previous close of $214.77.
The Jamaican dollar edged up against the US currency but lost ground to both the Canadian dollar and the pound, making for a mixed day overall.
What it means for property buyers and the diaspora
Days like this favour senders in the United Kingdom and Canada, whose pounds and Canadian dollars bought a little more in Jamaica than they did at the previous close. Anyone budgeting a deposit or legal fees from those countries gains slightly, while buyers whose savings sit in US dollars see little change. Contractors pricing imported fixtures and hardware for hurricane repairs will find US-dollar costs essentially flat.
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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