September 11, 2023
BOJ has reported that Jamaica’s Net International Reserves as at August 31, 2023 stood at US$4,434.16 million, reflecting a increase of US$298.95 million when compared to the US$4,135.21 million reported at the end of July 2023.
Foreign Assets totalled US$4,580.19 million, US$63.14 million less than the US$4,643.33 million reported in July 2023.
‘Currency & Deposits’ held by the BOJ as at August 31, 2023 totalled US$2,885.68 million, reflecting a decrease of US$68.18 million compared to the US$2953.86 million reported in July 2023.
‘Securities’ were valued at US$1,559.90 million; US$21.96 million more than the US$1,537.95 million reported at the end of July 2023. The country’s Special Drawing Rights decreased to US$98.22 million relative to the US$114.79 million recorded a month prior.
‘IMF Reserve Position’ decreased to US$36.37 million from the US$36.73 million reported last month. Liabilities to the IMF fell US$362.10 million to US$146.02 million against the US$508.12 million reported at the end of July 2023.
At its current value, the nation’s international reserve is US$683.35 million or 18 % higher than the US$3,750.81 million held by the BOJ on August 31, 2022. The current NIR supports approximately 37.08 weeks of goods imports and 24.18 weeks of goods and services imports.
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