Jamaica’s FX Reserves jump in December

Jamaica’s Net International Reserves shot up by US$163 million in December to hit US$2.72 billion with gross reserves climbing to US$3.29 billion.
The increase for December is just US$15 million less that the net inflows of foreign exchange, the financial system generated in the month. The reserves represent 38.40 weeks of imports of goods and 22.27 weeks of goods and services. Data of daily trading of foreign exchange collated by IC Insider.com show that net inflows of all currencies, amounted to a surplus of US$178 million in December last year.
Jamaica started 2016 with net reserves of US$2.437 billion, strong demand between April and May saw the amount dipping to a low of US$2.265 billion in June, as the country’s central bank sold funds into the market to meet demand.

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