KINGSTON, Jamaica — The United States (US) dollar on Monday, April 13, ended trading at $159.09, down 9 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $115.36, down from $116.31, while the British pound ended the session at $215.13, up from its previous close of $213.87.
The Jamaican dollar gained against the US and Canadian dollars but weakened against the British pound, leaving an uneven picture for the day.
What it means for property buyers and the diaspora
Buyers in the United Kingdom who are budgeting for stamp duty, transfer tax and attorney fees in Jamaican dollars would have seen their pounds go slightly further. Those remitting from North America saw a small move in the other direction, a reminder of why many overseas purchasers time larger transfers rather than sending funds on a single day. 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 follow the rates that shape the cost of property and construction in Jamaica.
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