KINGSTON, Jamaica — The United States (US) dollar on Monday, November 11, ended trading at $159.24, up five cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $113.90, down from $115.16, while the British pound sterling ended at $204.27, down from $206.56.
The Jamaican dollar was marginally weaker against the US dollar but posted solid gains against the Canadian dollar and the pound.
What it means for property buyers and the diaspora
Most property prices at the upper end of the Jamaican market are quoted with an eye on the US dollar, so a five-cent move makes little practical difference to a buyer’s budget. The larger shifts in the pound and Canadian dollar matter more to diaspora families in the UK and Canada, who received fewer Jamaican dollars per transfer than at the previous close when sending funds for deposits or renovations.
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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