KINGSTON, Jamaica — The United States (US) dollar on Monday, July 27, ended trading at $159.17, down 19 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $113.44, a little above its previous $113.30, while the British pound ended at $211.03, down from $212.99.
On balance the Jamaican dollar had a good day, firming against the US dollar and making its biggest gain against sterling, while conceding a few cents to the Canadian dollar.
What it means for property buyers and the diaspora
The drop of almost $2 in the pound is the move to watch for British-based Jamaicans planning to buy back home, as it reduces the local value of savings held in sterling. Buyers paying for imported kitchen units, doors or air-conditioning systems invoiced in US dollars see a small saving from the stronger 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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