KINGSTON, Jamaica — The United States (US) dollar on Monday, January 5, ended trading at $159.46, down 1 cent, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $117.09, up from $116.35, while the British pound ended the session at $214.15, up from its previous close of $213.06.
The Jamaican dollar was virtually flat against the greenback on the first Monday of the year, while weakening against both the Canadian dollar and sterling.
What it means for property buyers and the diaspora
A near-unchanged US rate gives buyers and developers a stable reference point as they set budgets for the new year. Diaspora members in Canada and the United Kingdom planning to send deposits or closing costs saw a slight improvement in what their money converts to locally. Buyers financing a purchase from abroad may also want to compare the rates offered by their bank or remittance company, which can differ from the central bank’s reference figures.
Jamaica Homes News publishes regular foreign exchange updates to help buyers, sellers and overseas investors follow the rates that shape the cost of property and construction in Jamaica.
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