August 8, 2024
Net International Reserves – July 2024
BOJ has reported that Jamaica’s Net International Reserves as at July 31, 2024 stood at US$5,067.79 million, reflecting a decrease of US$117.29 million when compared to the US$5,185.08 million reported at the end of June 2024.
Foreign Assets totalled US$5,144.98 million, US$116.53 million less than the US$5,261.51 million reported in June 2024.
‘Currency & Deposits’ held by the BOJ as at July 31, 2024 totalled US$3,474.46 million, reflecting a decrease of US$111.79 million compared to the US$3,586.24 million reported in June 2024.
‘Securities’ were valued at US$1,594.37 million; US$5.49 million less than the US$1,599.86 million reported at the end of June 2024. The country’s Special Drawing Rights increased to US$39.83 million relative to the US$39.43 million recorded a month prior.
‘IMF Reserve Position’ increased to US$36.33 million from the US$35.97 million reported last month. Liabilities to the IMF increased by US$0.76 million to US$77.19 million against the US$76.43 million reported at the end of June 2024.
Presently, the country’s foreign exchange reserves are US$932.58 million, or 23% more than the US$4,135.21 million held by the BOJ at the end of July 2023. The current NIR supports approximately 37.75 weeks of goods imports and 25.81 weeks of goods and services imports.
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