KINGSTON, Jamaica — The United States (US) dollar on Monday, February 23, ended trading at $156.78, up 4 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $113.57, down from $116.64, while the British pound ended the session at $212.31, up from its previous close of $210.98.
The session was mixed, with the Jamaican dollar little changed against the greenback, sharply stronger against the Canadian dollar and weaker against the pound.
What it means for property buyers and the diaspora
Owners who rent out property to overseas visitors and price in US dollars saw almost no change on the day. British buyers, by contrast, found their pounds stretching further toward Jamaican-dollar costs such as survey fees, valuation reports and renovation labour. On a transfer of US$50,000 toward a home purchase, even a few cents on the exchange rate can shift the Jamaican-dollar total by several thousand dollars, so buyers are wise to watch the trend rather than any single day.
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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