Jordan’s foreign currency reserves rose to $24.6 billion at the end of November, covering 8.8 months of imports, the Amman Chamber of Commerce said Friday.
Firas Sultan, the chamber’s representative for the financial and banking sector, said the increase highlights the strength of the national economy and its ability to withstand challenges.
He praised the central bank’s decision to cut its key interest rate and other policy rates by 25 basis points starting Sunday.
Sultan said the record reserves reflect positive indicators this year, including higher tourism income, exports and remittances from Jordanians abroad.
He added that the reserves support trade activity, provide financial stability for importers and exporters, and send a strong signal to investors about the economy’s resilience.
He noted that maintaining adequate reserves boosts confidence in monetary policy and enhances Jordan’s attractiveness to investors.
Foreign reserves are held in deposits and bonds in currencies such as the U.S. dollar, euro, pound sterling and yen, and help support the local currency and meet debt obligations.