KINGSTON, Jamaica — The United States (US) dollar on Monday, February 16, ended trading at $156.93, down 9 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $115.27, down from $117.15, while the British pound ended the session at $212.32, down from its previous close of $215.89.
All three major currencies lost ground, giving the Jamaican dollar a firm session across the board.
What it means for property buyers and the diaspora
For households in the diaspora building a retirement home in stages, days like this mean each remittance covers slightly less of the next phase of work. Local buyers taking on imported materials or paying US-dollar-priced contractors, however, enjoy a modest reprieve. Because many construction budgets combine local labour with imported materials, builders often track the rate weekly to decide when to lock in quotes for larger orders.
Jamaica Homes News publishes regular foreign exchange updates to help buyers, sellers and overseas investors follow the rates that shape the cost of property and construction in Jamaica.
Follow Jamaica Homes on Youtube @jamaicahomes and Instagram @jamaica_homes and on Facebook @jamaicahomesnews Send us a message or email us at onlinefeedback@jamaica-homes.com or editor@jamaica-homes.com
Visit our YouTube Community ↗