KINGSTON, Jamaica — The United States (US) dollar on Monday, September 15, ended trading at $161.47, down 5 cents, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $116.67, down from $119.09, while the British pound ended at $216.72, compared with $218.40 at the previous close.
Based on those figures, all three major currencies closed lower against the Jamaican dollar, leaving the local unit firmer on the day.
What it means for property buyers and the diaspora
A stronger Jamaican dollar is mildly helpful for anyone building locally, since imported cement additives, reinforcing steel and plumbing fixtures are generally paid for in US dollars. For the diaspora, especially in Canada, where the rate dropped by more than two Jamaican dollars, it was a less favourable day to convert savings intended for a land purchase, a deposit or ongoing renovation work back home.
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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