KINGSTON, Jamaica — The United States (US) dollar on Monday, January 12, ended trading at $158.66, up 3 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $120.07, up from $114.34, while the British pound ended the session at $213.11, up from its previous close of $212.41.
All three major currencies closed higher, leaving the Jamaican dollar weaker across the board, with the reported rise in the Canadian dollar especially large.
What it means for property buyers and the diaspora
When the local currency softens against the currencies in which many Jamaicans abroad are paid, overseas buyers gain some purchasing power for homes and land priced in Jamaican dollars. Contractors relying on imported fixtures and fittings may see those costs creep upward. Because many construction budgets combine local labour with imported materials, builders often track the rate weekly to decide when to lock in quotes for larger orders.
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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