Foreign reserves decline by $2 billion by end of October 2022

(File photo: Ameer Khalifeh/Jordan News)
AMMAN — According to Central Bank of Jordan (CBJ) data, issued Wednesday, during the first 10 months of this year the volume of foreign reserves decreased by $2 billion, or 11 percent, according to Al-Mamlaka TV.اضافة اعلان

The volume of CBJ foreign reserves had reached at the end of October $15.999 billion, compared to $18.043 billion it had at the end of last year 2021.

Foreign reserves were impacted by the high prices of imported oil and its derivatives, and the high cost of importing foodstuff, especially wheat, of which Jordan has record stocks.

Data also showed that foreign reserves decreased by 4 percent in October compared to the previous month, by about $700 million.

Foreign reserves had declined by 6 percent, about $973 million, until the end of October this year, compared to the same period of 2021.

The reserves are expected to rise at the end of this year, returning to their previous levels, as the government received the $850 million annual US grant, and will receive other grants before the end of 2022.

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