NIR Climbs To 39-Month High

NIR-sept

Net International Reserves at the end of September was US$2,200.57 million. September’s Reserves of US$2,200.57 million is the highest it has been since June 2011.

At current exchange rates,this amount represents enough reserves to purchase 27.17 weeks of Goods Imports and 19.52 weeks of Goods & Services Imports based on the estimated value of imports for the 2014/2015 fiscal year.

The country’s Reserves (NIR) grew by 4% or US$79 million from US$2,121.49 at the end of August to US$2,200.57 at the end of September.

During September a payment was made to the International Monetary Fund (IMF), reducing total amount owed by US$30 million.

diGJamaica’s Economy Dashboard has more information including two-year comparisons of Jamaica’s Net International Reserves. Check it out here.