The Jamaican dollar has been undergoing a depreciation since May after a brief revaluation but the net international reserves actually climbed at the end of September compared with August of this year.
Net International Reserves at the end of September amounted to US$910 million, up $28.54 million over the August figure of US$881.6 million. It is not clear where the increase came from. The central bank is projecting that the NIR will remain around these levels until year end.
The reserves translate to 14.96 weeks of Goods Imports and 11.22 weeks of Goods & Services Imports at the end of August and for September was 15.10 weeks and 11.4 weeks respectively.
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