KINGSTON, Jamaica — The United States (US) dollar on Tuesday, August 18, ended trading at $159.40, up 64 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar, by contrast, dropped to $113.19 from $115.91, and the British pound closed at $214.46, down from $215.41.
The session delivered a split result for the Jamaican dollar, which weakened noticeably against the greenback while strengthening against both the Canadian dollar and sterling.
What it means for property buyers and the diaspora
A 64-cent rise in the US dollar is enough to nudge up the local price of imported hardware, plumbing and finishing materials that suppliers bill in US currency. Diaspora buyers in the United States benefit on the same day, getting more Jamaican dollars for each deposit or closing-cost transfer, while those in Canada and Britain lose some purchasing power.
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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