KINGSTON, Jamaica — The United States (US) dollar on Monday, December 15, ended trading at $160.82, down 9 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $116.73, down from $117.17, and the British pound ended at $214.43, down from its previous close of $215.69.
All three major currencies weakened against the Jamaican dollar, giving the local unit a modest gain across the board for the session.
What it means for property buyers and the diaspora
For relatives in Toronto, London or New York sending money home before Christmas, a firmer Jamaican dollar means each transfer converts into slightly fewer local dollars. On the other side of the ledger, builders ordering cement, steel and roofing sheets to repair homes damaged by Hurricane Melissa benefit a little, since those imports are priced in US dollars and cost marginally less to settle locally.
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 ↗