KINGSTON, Jamaica — The United States (US) dollar on Monday, March 31, ended trading at $158.36, down 10 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $110.40, down from $113.07 at the previous close, and the British pound ended at $203.40, down from $206.39.
The Jamaican dollar strengthened against all three major currencies, with the largest gains against the Canadian dollar and the pound.
What it means for property buyers and the diaspora
Falls of around $3 in both the Canadian dollar and the pound in one session will be felt by families in Toronto, Birmingham and London who support relatives or pay for property in Jamaica. A transfer for a deposit or a construction payment now yields fewer Jamaican dollars than it would have a day earlier. For local buyers, the slightly lower US rate trims the cost of imported finishes and appliances, and gives a small lift to those repaying US dollar loans.
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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