KINGSTON, Jamaica — The United States (US) dollar on Monday, March 16, ended trading at $158.23, up 7 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $115.19, down from $117.00, while the British pound ended the session at $210.63, down from its previous close of $211.95.
The Jamaican dollar slipped modestly against the greenback but posted solid gains against the Canadian dollar and a smaller advance against the pound.
What it means for property buyers and the diaspora
Canadian-based Jamaicans planning to send closing costs or a deposit home saw their dollars buy noticeably less on the day. Those earning or saving in US dollars were marginally better placed, which matters for buyers of resort-area apartments that are often marketed in US dollars. 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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