The figures of the Central Bank of Jordan showed that foreign exchange reserves increased in the first nine months of this year by 8.4 percent compared to their level at the end of 2019. The value of foreign currency reserves of the Kingdom reached about $13.2 billion at the end of last September compared to about 12.17 billion dollars at the end of 2019.
According to the central bank, the reason for the increase in currency reserves is due to Jordan's issuance of international bonds in July, worth 1.75 billion dollars.
Foreign reserves in Jordan began to be negatively affected since the beginning of 2016, after the slowdown in growth in remittances from expatriates, tourism income and foreign investment, which are factors feeding the foreign currency reserves in the Kingdom.
The Central Bank of Jordan reveals an increase in reserve assets (currencies, gold, bonds and bills), on an annual basis, by 15.6 percent, up from 11.906 billion dinars (16.787 billion dollars).
According to the Central Bank, the reserve is sufficient for a period of more than 7 months, and to meet the requirements of external payments and imports for more than 6 months. The growth of foreign exchange reserves in Jordan has improved during the current year, despite the increasing global economic and financial risks, due to the outbreak of the Corona pandemic, which prompted most economies to hedge foreign exchange.
Source (Asharq Al-Awsat Newspaper, Edited)
