KINGSTON, Jamaica — The United States (US) dollar on Monday, March 23, ended trading at $158.86, up 15 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $116.68, up from $115.97, while the British pound ended the session at $212.60, up from its previous close of $211.48.
All three currencies closed higher, meaning the Jamaican dollar weakened against each of them during the session.
What it means for property buyers and the diaspora
When the Jamaican dollar softens across the board, foreign-currency earners and overseas buyers gain purchasing power for property priced locally. Anyone importing furniture, appliances or finishing materials for a new home, however, faces a slightly higher bill once those US-dollar prices are converted. 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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