KINGSTON, Jamaica — The United States (US) dollar on Monday, June 8, ended trading at $158.51, up 41 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $114.02, up from $113.80, but the British pound tumbled to $211.24 from $215.04.
The Jamaican dollar therefore lost ground to the US and Canadian dollars but made a sizeable gain of close to $4 against sterling.
What it means for property buyers and the diaspora
The sharp fall in the pound was unwelcome for UK-based Jamaicans saving towards a purchase at home, since a £10,000 transfer would have fetched roughly J$38,000 less than a trading day earlier. Buyers in North America saw a modest improvement, while tenants paying rent quoted in US dollars face a marginally higher bill 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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