KINGSTON, Jamaica — The United States (US) dollar on Monday, August 31, ended trading at $159.02, down 21 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $112.81, well below its previous $116.87, and the British pound slid to $214.77 from $218.56.
The Jamaican dollar ended the month on a firm footing, gaining against all three major currencies, with its largest advances against the Canadian dollar and the pound.
What it means for property buyers and the diaspora
For the large Jamaican communities in Canada and the United Kingdom, this was a less favourable day to convert savings earmarked for a home purchase or land deposit. Locally, developers and self-builders who pay suppliers in foreign currency for lumber, electrical fittings or solar equipment benefit from the stronger Jamaican dollar.
Jamaica Homes News tracks the exchange rate regularly so buyers, sellers and overseas investors can keep an eye on the numbers that shape the cost of property and construction in Jamaica.
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