KINGSTON, Jamaica — The United States (US) dollar on Monday, April 27, ended trading at $157.90, up from $157.52 at the previous close, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $115.32, up from $114.90, while the British pound ended the session at $215.99, up from its previous close of $212.07.
With all three currencies closing higher, the Jamaican dollar lost ground across the board, and the move against sterling was particularly pronounced.
What it means for property buyers and the diaspora
A weaker Jamaican dollar is welcome news for overseas buyers, since savings held in US dollars, Canadian dollars or pounds convert into more local currency for down payments and legal fees. For contractors, however, imported items such as steel, tiles and fixtures that are priced in US dollars become a little more expensive to land. 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 follow the rates that shape the cost of property and construction in Jamaica.
Follow Jamaica Homes on Youtube @jamaicahomes and Instagram @jamaica_homes and on Facebook @jamaicahomesnews Send us a message or email us at onlinefeedback@jamaica-homes.com or editor@jamaica-homes.com
Visit our YouTube Community ↗