KINGSTON, Jamaica — The United States (US) dollar on Tuesday, September 8, ended trading at $158.65, down 31 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar fell to $113.50 from $116.62, and the British pound ended at $213.39, down from $216.62.
All three major currencies lost ground, making it a strong day for the Jamaican dollar, with its biggest gains of more than $3 recorded against both the Canadian dollar and sterling.
What it means for property buyers and the diaspora
A firmer local currency trims the Jamaican-dollar cost of imported building materials, appliances and fittings, which is welcome news for anyone in the middle of a build. On the other hand, family members abroad sending money for mortgage instalments or closing costs will find their Canadian dollars and pounds converting into noticeably fewer Jamaican dollars than they did a 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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