KINGSTON, Jamaica — The United States (US) dollar on Wednesday, May 27, ended trading at $158.08, up 18 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar eased to $114.39 from $114.53, and the British pound closed at $212.33, just above its previous $212.30.
The Jamaican dollar gave up some ground to the US dollar, picked up a little against the Canadian dollar and was essentially flat against sterling.
What it means for property buyers and the diaspora
With the pound and Canadian dollar barely moving, the main effect of the day’s trading falls on US-dollar transactions. Buyers wiring funds from the United States to complete a purchase or pay transfer tax gained slightly, while property owners repaying loans or leases set in US dollars will find those payments a fraction more expensive in local currency.
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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