KINGSTON, Jamaica — The United States (US) dollar on Tuesday, April 7, ended trading at $158.72, down 19 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $114.62, up from $114.33, while the British pound ended the session at $212.21, down from its previous close of $212.49.
The local currency made gains against the US dollar and the pound, while the Canadian dollar edged higher against it.
What it means for property buyers and the diaspora
For developers pricing a project, a firmer Jamaican dollar trims the local cost of imported building materials, from roofing sheets to electrical fittings, that are quoted in US dollars. Diaspora savers converting US-dollar deposits for a purchase, on the other hand, receive slightly fewer Jamaican dollars per transfer. Anyone planning a large transfer for a deposit or closing costs may find it useful to spread payments over several weeks to smooth out day-to-day swings.
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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