Amman: The financial and banking sector at the Jordan Chamber of Commerce (JCC) has reported a solid demand for the Jordanian Dinar across local exchange companies.
According to Jordan News Agency, Firas Sultan, the sector's representative, attributed this trend to an increase in domestic economic activity, particularly within national exports, combined with steady remittance inflows from Jordanian expatriates working abroad.
Sultan indicated that exchange market activity is expected to continue rising in the coming months. This anticipated growth is linked to the return of expatriates and visitors from the Arabian Gulf, who support various economic sectors and contribute to the ongoing growth of the Central Bank's foreign currency reserves.
Official figures reveal that expatriate remittances grew by 13.3% during the first four months of the year, reaching $1.6 billion. Meanwhile, foreign currency reserves hit $27.2 billion by the end of May, marking a $1.7 billion increase compared to the end of last year.
Sultan pointed out that the banking and financial sector views these early economic results positively, as they demonstrate the national economy's stability and ability to adapt to external challenges. He credited the Central Bank's continuous efforts in maintaining monetary and banking stability.
Additionally, he emphasized that the successful completion of the International Monetary Fund (IMF) reviews boosts confidence in the economy and underscores the Kingdom's commitment to implementing structured, priority-driven reforms aimed at enhancing economic efficiency and competitiveness.
Currently, the exchange sector consists of 250 companies and branches, employing approximately 4,000 Jordanian citizens.