KINGSTON, Jamaica — The United States (US) dollar on Monday, February 9, ended trading at $156.94, down from $157.14 at the previous close, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $115.36, up from $115.31, while the British pound ended the session at $215.00, up from its previous close of $212.90.
The Jamaican dollar gained against the greenback but weakened against the pound and, fractionally, against the Canadian dollar.
What it means for property buyers and the diaspora
Mortgage borrowers with US-dollar loans benefit when the greenback eases, as their monthly payments cost fewer Jamaican dollars. UK-based buyers, meanwhile, saw a meaningful boost in the Jamaican-dollar value of their savings, which can make a difference when budgeting for a deposit and transfer costs. Buyers financing a purchase from abroad may also want to compare the rates offered by their bank or remittance company, which can differ from the central bank’s reference figures.
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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