Jordan’s central bank assets jump 19% y/y to USD 19bn at end-March 2014

By bne IntelliNews May 12, 2014

Surging FX assets amid recovering services income and sovereign debt issues lifted Jordan’s central bank total assets by 19% y/y to JOD 13.3bn (USD 19bn) at end-March 2014, the central bank said in its monthly report. FX assets jumped 34% y/y to JOD 11bn at end-March, accounting for 82% of the total.

Jordan’s tourism proceeds grew 11.1% y/y to USD 1.03bn in the first three months of 2014. Remittances from Jordanians residing and working abroad also increased 3.1% y/y to USD 862mn in January-March.

Jordan will also sell up to USD 1bn in Eurobonds in June and also awaits transfers from the IMF. All those factors will lift FX assets and consequently the central bank’s overall position.

The central bank had JOD 4.23bn worth of FX cash, balances and deposits at end-March. The central bank portfolio of FX-denominated bonds and T-bills climbed 41% y/y to JOD 5.34bn at end-March.

Domestic assets (JOD-denominated) totalled JOD 2.24bn at end-Q1, down from JOD 2.33bn the year before. Claims on the public sector totalled JOD 1.43bn over the period, down from JOD 1.48bn at end-February.

Related Articles

Iran, Syria sign raft of memoranda and deals

Following the purge of foreign-backed rebels in the devastated Syrian city of Aleppo by Iranian, Lebanese and Russian forces, Damascus’s prime minister Imad Khamis was in Tehran to sign five ... more

Egypt could return to emergency rule amidst deadly bomb explosions

A spate of explosions in Egypt over the long weekend marking the birthday of Prophet Mohamed culminated in the detonation of a bomb at a church attached to the Coptic Christian Cathedral that ... more

Egypt’s inflation spikes post November currency floatation, rate hike expected

Egypt’s annual inflation rate spiked in November to hit its highest levels since July 2008, reflecting the effects of the general rise in price levels of goods since the Egyptian pound’s ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss