Business News
Jordan's forex reserves at record level of 11.2 billion dollars
Oct 25, 2010, 17:03 GMT
Amman - Jordan's reserves of foreign currencies grew by 10 per cent over the past year, to an all-time high of 11.2 billion dollars as of September 30, from 10.15 billion dollars a year earlier, the Central Bank of Jordan said Monday.
A CBJ official attributed the increase in forex reserves mainly to a 1.5 per cent rise in the transfers of Jordanian expatriates working outside the country.
The transfers came to 1.92 billion dollars in the first nine months of the year, the official Petra news agency reported.
The Jordanian official also cited a 20 per cent increase in the country's income from tourism, to nearly 1.88 billion dollars.
Jordan's foreign currency reserves are sufficient for covering the country's imports for eight months, he added.
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