KINGSTON, Jamaica — The United States (US) dollar on Monday, February 2, ended trading at $157.54, unchanged from the previous close, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $117.50, down from $118.66, while the British pound ended the session at $214.76, down from its previous close of $220.20.
While the US rate held steady, the Jamaican dollar strengthened against both the Canadian dollar and, by a wide margin, the British pound.
What it means for property buyers and the diaspora
A flat US-dollar rate offers some predictability for buyers and builders whose budgets are tied to the greenback. For remitters in Canada and especially the United Kingdom, the day’s moves meant their transfers toward property purchases or home improvements converted into fewer Jamaican dollars. Over the life of a building project, these small shifts can add up, which is why many developers include a foreign exchange buffer in their cost estimates.
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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