Demand for Jordan's dinar increases due to remittances, tourism activity

(File photo: Jordan News)
AMMAN — Jordan's financial and banking sector has confirmed a strong demand for the Jordanian Dinar, with the approaching Eid al-Fitr holiday, according to Khaberni. اضافة اعلان

This demand is attributed to the rise in remittances from Jordanians working abroad and an increase in tourism activity.

Tourism income on the riseAccording to figures released by the Central Bank, the Kingdom's tourism income during the first quarter of this year increased by 88.4 percent, compared to the same period in the previous year, registering $1.671 billion.

This rise in tourism activity has led to a large supply of various foreign currencies in the local market, strengthening Jordan's foreign currency reserves.

Expectations for other currenciesWith the Eid holiday period approaching, Firas Sultan, the second vice president of the Jordan Chamber of Commerce (JCC), expects a demand for other currencies such as the Egyptian pound and Turkish lira, as more people from Jordan go abroad during this period.

The exchange sector in Jordan comprises 250 companies and branches, which are distributed throughout the Kingdom, employing approximately 4,000 Jordanian employees.

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