KINGSTON, Jamaica — The United States (US) dollar on Tuesday, July 14, ended trading at $159.13, down 61 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $113.52, down from $113.79, but the British pound moved the other way, ending at $215.87 compared with $213.96 previously.
The Jamaican dollar made a meaningful gain against the US dollar and a smaller one against the Canadian dollar, but slipped by close to $2 against sterling.
What it means for property buyers and the diaspora
A drop of more than half a dollar in the US rate lowers the local cost of materials such as imported cement additives, glass and electrical cable. It also means remittances from the United States earmarked for a mortgage payment or home repairs yield a little less, while UK-based families saw their pounds go further.
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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