KINGSTON, Jamaica — The United States (US) dollar on Monday, March 9, ended trading at $157.60, up 13 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $115.92, down from $116.31, while the British pound ended the session at $210.98, up from its previous close of $210.75.
The Jamaican dollar gave up ground to the US dollar and, marginally, to sterling, but strengthened against the Canadian dollar.
What it means for property buyers and the diaspora
Hardware merchants and builders who settle supplier invoices in US dollars will notice even small upward moves like this over time, as they feed into the price of cement additives, lumber and plumbing supplies. For overseas buyers sending US dollars, the day brought a modest gain in local purchasing power. 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 keep track of the rates that shape the cost of property and construction in Jamaica.
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