Jordan’s forex reserves hit $11.2b by Sep.-end

26 Oct 2010

(MENAFN) The Central Bank of Jordan (CBJ) said in its latest report that the kingdom’s reserves of foreign currencies hit a record reaching $11.2 billion at the end of September, Petra reported.

During the first nine months of last year, the volume of foreign reserves stood at $10.1 billion, the central bank said.

A CBJ official attributed the increase in the reserves to the rise in expatriates remittances, which reached $2.74 billion by the end of September, a 1.5 percent increase compared to the same period of last year.

The official added that the increase in tourism revenues also contributed to the increase in the foreign reserves, which currently can cover the cost of Jordan’s imported goods and services for eight months.

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