KINGSTON, Jamaica — The United States (US) dollar on Monday, August 10, ended trading at $159.03, down 53 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar finished at $114.01, down from $114.24, and the British pound closed at $213.38 after ending the previous session at $215.51.
The Jamaican dollar strengthened against each of the three major currencies, recording a solid half-dollar gain on the US dollar and an even larger one against sterling.
What it means for property buyers and the diaspora
Borrowers carrying US-dollar loans on Jamaican property see their repayments cost slightly less in local currency when the Jamaican dollar firms like this. For overseas savers, however, the timing of a remittance matters: the same transfer to cover a deposit or attorney’s fees would have produced more Jamaican dollars one trading day earlier.
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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