November 9, 2022
BOJ has reported that Jamaica’s Net International Reserves as at October 31, 2022 stood at US$3,774.60 million, reflecting a decrease of US$32.70 million when compared to the US$3,807.30 million reported at the end of September 2022.
Foreign Assets totalled US$4,318.68 million, US$30.83 million less than the US$4,349.51 million reported in September 2022. ‘Currency & Deposits’ held by the BOJ as at October 31, 2022 totalled US$2,610.73 million, reflecting a decrease of US$19,42 million compared to the US$2,630.16 million reported in September 2022.
‘Securities’ were valued at US$1,528.53 million; US$11.88 million less than the US$1,540.42 million reported at the end of September 2022. The country’s ‘Special Drawing Rights & IMF Reserve Position’ rose to US$179.42 million from the US$178.94 million reported last month. Liabilities to the IMF increased by US$1.87 million to US$544.08 million against the US$542.21 million reported at the end of September 2022.
At its current value, the nation’s international reserve is $93.47 million, or 2% less than the $3,868.07 million held by the BOJ on October 31, 2021. The current NIR supports approximately 36.06 weeks of goods imports and 24.02 weeks of goods and services imports.
The Bank of Jamaica (BOJ) has long said that the preservation of a relatively healthy Net International Reserves balance will allow the country to adequately respond to economic shocks, finance its obligations and address near to medium-term eventualities.
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