‘Demand for Jordanian dinar strong, boosted by tourism, remittances’

AMMAN — Secretary General of the Jordanian Exchange Association Alaa Diraniyeh said on Tuesday that the demand for the Jordanian dinar has remained strong throughout the year, driven partly by a surge in domestic and regional tourism.

Diraniyeh stressed that both inbound and outbound remittances have increased by 3 per cent compared with previous years, reflecting the positive impact of tourism on the local currency exchange market, according to the Jordan News Agency, Petra. 

Diraniyeh also expressed optimism for a more robust market recovery in early 2024, fueled by regional and international developments. 

He also pointed to the potential effects of declining European currencies and the ongoing rise in U.S. dollar interest rates on the exchange market.

Diraniyeh also said that local commercial activity has been subdued this year due to the Israeli aggression on the Gaza Strip, expressing hope that markets will regain momentum, especially if trade activity resumes between Jordan and Syria, which serves as Jordan's gateway to Turkey and Europe.