September 9, 2024
Net International Reserves – August 2024
BOJ has reported that Jamaica’s Net International Reserves as at August 31, 2024 stood at US$5,004.89 million, reflecting a decrease of US$62.90 million when compared to the US$5,067.79 million reported at the end of July 2024.
Foreign Assets totalled US$5,083.14 million, US$61.84 million less than the US$5,144.98 million reported in July 2024.
‘Currency & Deposits’ held by the BOJ as at August 31, 2024 totalled US$3,412.48 million, reflecting a decrease of US$61.98 million compared to the US$3,474.46 million reported in July 2024.
‘Securities’ were valued at US$1,612.58 million; US$18.21 million more than the US$1,594.37 million reported at the end of July 2024. The country’s Special Drawing Rights decreased to US$21.25 million relative to the US$39.83 million recorded a month prior.
‘IMF Reserve Position’ increased to US$36.83 million from the US$36.33 million reported last month. Liabilities to the IMF increased by US$1.06 million to US$78.25 million against the US$77.19 million reported at the end of July 2024.
Presently, the country’s foreign exchange reserves are US$612.79 million, or 14% more than the US$4,392.10 million held by the BOJ at the end of August 2023. The current NIR supports approximately 37.16 weeks of goods imports and 25.32 weeks of goods and services imports.
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