KINGSTON, Jamaica — The United States (US) dollar on Monday, June 29, ended trading at $158.21, up 44 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar advanced to $113.21 from $112.07, and the British pound closed at $209.99, up from $208.40.
The Jamaican dollar weakened against all three major currencies, with the sharpest slippage recorded against sterling and the Canadian dollar.
What it means for property buyers and the diaspora
Days when the local currency softens across the board favour members of the diaspora converting savings for a purchase, a land payment or a family home extension, since every dollar or pound buys more locally. The flip side is felt on building sites, where materials imported and priced in US dollars become a little more expensive in Jamaican-dollar terms.
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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