June 8, 2023
BOJ has reported that Jamaica’s Net International Reserves as at May 31, 2023 stood at US$4,208.73 million, reflecting an increase of US$36.89 million when compared to the US$4,171.83 million reported at the end of April 2023.
Foreign Assets totalled US$4,730.82 million, US$25.86 million more than the US$4,704.95 million reported in April 2023. ‘Currency & Deposits’ held by the BOJ as at May 31, 2023 totalled US$3,027.50 million, reflecting an increase of US$44.17 million compared to the US$2,983.33 million reported in April 2023.
‘Securities’ were valued at US$1,553.54 million; US$2.08 million less than the US$1,555.62 million reported at the end of April 2023. The country’s ‘Special Drawing Rights’ declined to $113.47 million relative to the $129.16 million recorded a month prior. ‘IMF Reserve Position’ fell to US$36.31 million from the US$36.84 million reported last month. Liabilities to the IMF fell by US$11.03 million to US$522.09 million against the US$533.12 million reported at the end of April 2023.
At its current value, the nation’s international reserve is $451.44 million, or 12% higher than the $3,757.29 million held by the BOJ on May 31, 2022. The current NIR supports approximately 38.30 weeks of goods imports and 26.15 weeks of goods and services imports.
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