Jordan's reserves of hard currencies grew by 11 percent in the first seven months of the year, the Central Bank of Jordan (CBJ) announced Thursday. The country's forex reserves stood at the end of July at $7.25 billion compared with $6.52 billion a year earlier, the CBJ said. It attributed the growth of foreign currency reserves mainly to an 11 percent jump in financial transfers of about 670,000 Jordanian expatriates working in Saudi Arabia and other Gulf states. The CBJ put the transfers of expatriates in the first seven months of the year at $1.2 billion, compared with $2.4 billion in 2007.
