jordan pulse -

Representative of the financial and banking sector at the Jordan Chamber of Commerce, Firas Sultan, said inflows of remittances from Jordanian expatriates, particularly in the Gulf states, have stimulated local exchange companies.

The local market is currently witnessing a steady inflow of remittances from the Gulf and other countries as Eid Al-Fitr draws closer, which increases demand for the Jordanian dinar and energizes commercial activity, he told Petra in an interview.

Sultan said remittances boost the Kingdom’s foreign currency reserves, which stood at $28.2 billion by the end of February, compared with $25.5 billion last year.

Sultan also pointed to robust domestic transfers in the local market, predicting a clear improvement in the exchange market in the coming months as Jordan’s trade with Syria gathers pace.

//Petra// AO