Amman, May 17 (Petra) – Jordan's foreign reserves at the Central Bank of Jordan (CBJ) rose to $27.051 billion by the end of April.

The increase reflects "strength" of the Kingdom's monetary position and the continued capacity of the Jordanian economy to maintain financial and monetary stability.

According to data, the bank's gold stockpile increased to approximately $11 billion, amounting to 2.397 million ounces, benefiting from the rise in global gold prices and the increased reliance on this metal as a key safe-haven assets globally.

These high levels of foreign reserves enhance the bank's capability to support stability of the Jordanian dinar's exchange rate, provide comfortable coverage for imports, and bolster confidence in the national economy and the banking sector.

The increase in Jordan's gold holdings also reflects the bank's trend to diversify reserve instruments and strengthen safe assets amid continued global economic volatility and high levels of uncertainty in international markets.

Foreign reserves are a key indicator of an economy's robustness and its ability to withstand external shocks, mainly given the challenges related to global interest rates, geopolitical tensions, and slowing growth in several global economies.

//Petra// AG