KINGSTON, Jamaica — The United States (US) dollar on Monday, June 16, ended trading at $159.91, compared with $159.86 at the previous close on Friday, according to the Bank of Jamaica’s daily foreign exchange trading summary.
The Canadian dollar closed at $118.40, compared with $117.99 on Friday, and the British pound ended at $216.92, compared with $216.60.
The Jamaican dollar gave up a little ground against all three major currencies on the day.
What it means for property buyers and the diaspora
When the Jamaican dollar softens across the board, overseas money goes a little further. Jamaicans in the United States, Canada and the United Kingdom sending remittances for a land purchase, a mortgage top-up or a building project all received slightly more local currency per unit. For local buyers, though, the same move nudges up the cost of imported materials such as lumber, windows and solar equipment, which are typically priced off the US dollar.
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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