August 8, 2023
BOJ has reported that Jamaica’s Net International Reserves as at July 31, 2023 stood at US$4,135.21 million, reflecting a decrease of US$148.26 million when compared to the US$4,283.47 million reported at the end of June 2023.
Foreign Assets totalled US$4,643.33 million, US$143.39 million less than the US$4,786.72 million reported in June 2023.
‘Currency & Deposits’ held by the BOJ as at July 31, 2023 totalled US$2,953.86 million, reflecting a decrease of US$135.13 million compared to the US$3,088.99 million reported in June 2023.
‘Securities’ were valued at US$1,537.95 million; US$9.71 million less than the US$1,547.66 million reported at the end of June 2023. The country’s Special Drawing Rights increased to US$114.79 million relative to the US$113.70 million recorded a month prior.
‘IMF Reserve Position’ increased to US$36.73 million from the US$36.38 million reported last month. Liabilities to the IMF rose US$4.87 million to US$508.12 million against the US$503.25 million reported at the end of June 2023.
At its current value, the nation’s international reserve is US$474.66 million or 13 % higher than the US$3,660.55 million held by the BOJ on July 31, 2022. The current NIR supports approximately 37.59 weeks of goods imports and 25.67 weeks of goods and services imports.
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