AMMAN — The Jordanian Money Exchange Association has
reported a gradual upsurge in the demand for the Jordanian Dinar, attributing
it to the stability of the summer season, flourishing domestic and International tourism activities, school holidays, and visits by expatriates.
In a statement on Sunday, Alaa Derania, the
secretary-general of the association, anticipated a forthcoming upswing in
demand for the Turkish Lira and the Egyptian Pound, the Jordan News Agency,
Petra, reported.
This surge is expected to align with the projected increase
in tourist arrivals and traveler numbers during the Eid Al-Adha vacation period. Additionally, Derania highlighted the robust demand for the Saudi
Riyal, particularly due to the ongoing Hajj season.
Domestic transfers and seamless money transfer services
Derania further emphasized the active volume of domestic
transfers between currency exchange company branches, pointing out the
widespread presence of exchange shops across cities.
This accessibility provides customers with seamless and
convenient money transfer services that are on par with traditional banking
channels.
Outgoing remittances remain consistent
Regarding remittance trends, Derania underscored that
outgoing remittances from the Kingdom are consistent with typical levels for
this time of year.
However, the inflow of remittances from Gulf countries has
experienced a slowdown due to intensified competition within the Gulf labor
market, inflationary pressures, and the high cost of living.
Presently, the Kingdom of Jordan boasts a total of 105
operational currency exchange companies, with branch networks spanning across
all governorates.
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