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BOJ says NIR declined in June

The Bank of  Jamaica (BOJ) is reporting that the Net International Reserves (NIR) declined last month.
 
At the end of  June, the NIR was valued at US$3.1 billion which was US$40 million lower than the previous month.
 
The report comes a few weeks after the U.S dollar traded at its highest value against the US currency in more than ten months.
 
The news also follows comments that the BOJ made big payouts in June relating to Government bonds which became due.
 
The NIR was previously growing steadily.
 
This was an indication that Jamaica was able to cushion any possible economic fallout on the local or international scene.
 
 


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