Oman: agencies
The Governor of the Central Bank of Jordan, Dr. Adel Sharkas, said that the volume of the Kingdom's foreign exchange reserves amounts to $17.5 billion, and it covers the Kingdom's imports for more than 7 months.
Sharkas expected during the second session of the eighth conference of Jordanian businessmen and investors, which opened today, Saturday, that inflation rates in the Kingdom will maintain at 2.7 percent by the end of this year, which are the same levels recorded during the past seven months of this year.
Sharkas said that the Central Bank resorted to raising interest rates in the context of ensuring the stability of monetary policy and maintaining a positive margin for the exchange rate of the dinar against foreign currencies, as well as to maintain inflation rates at acceptable levels.
Sharkas stressed that the Central Bank of Jordan's main goal is to maintain monetary stability, which is essential for overall investment and to maintain the stability of the Jordanian dinar exchange rate, expecting a decrease in interest rates globally during the second quarter of next year 2024 in the event of continued improvement in economic data in the United States of America.
He indicated that the inflation rates recorded in the Kingdom during the past year were 4.2 percent, which is the lowest in the region. At international price levels that reached $650 per ton of wheat.
He said, "One of the most important constants of monetary stability is the stability of the exchange rate of the Jordanian dinar against foreign currencies and the fight against inflation," stressing that Jordan has succeeded in this regard.
He stressed that Jordan enjoys monetary and exchange rate stability, and there are no restrictions on the movement of funds, which was indicated by the recent instructions issued by the World Bank and the International Monetary Fund, which indicated that the Jordanian banking system is strong, solid, stable and capable of withstanding shocks.