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Deposits in foreign currency at Jordan banking system hit JOD6.24 billion

This represents a decline of 5.2 per cent compared with JOD6.59bn at the end of 2013

The volume of foreign currency deposits with the banking system in Jordan amounted to JOD6.24 billion at the end of 2014, says a report.

According to the annual report issued by the Jordan Deposit Insurance Corporation (JODIC) for 2014, this represents a decline of 5.2 per cent compared with JOD6.59bn at the end of 2013, reports Jordan-based Al Rai.

The number of depositors in foreign currencies declined during 2014, going from 255,000 depositors in 2013 to 245,600 depositors by the end of 2014.

The average amount of the deposits in foreign currencies decreased from JOD25,800 by the end of 2013 to JOD25,400 by the end of 2014.

The reports shows that foreign currency deposits are divided as follows: those from individuals stood at JOD4.28bn at the end of 2014, accounting for 68.6 per cent of the total foreign currency deposits, deposits of companies at JOD1.95bn accounting for 31.3 per cent and government’s deposits at JOD7.1 million accounting for 0.1 per cent.

(JOD1 = AED5.18, at the time of publishing)