Forex: $159.32 to One US Dollar

KINGSTON, Jamaica — The United States (US) dollar on Monday, August 24, ended trading at $159.32, down 7 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.

The Canadian dollar ended the session at $115.08, down from $115.70, and the British pound settled at $215.01 compared with $215.34 previously.

The Jamaican dollar edged higher against all three major currencies, though the moves were modest, with the largest gain coming against the Canadian dollar.

What it means for property buyers and the diaspora

Landlords who quote rents to expatriate or corporate tenants in US dollars will see little difference from a seven-cent move, but the small, steady gains for the local currency slightly ease the Jamaican-dollar price of imported materials. Overseas relatives funding a relative’s first home receive marginally less per dollar or pound sent.

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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