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Demand for Jordanian dinar "increasing"

Demand for Jordanian dinar "increasing"
Demand for the dinar is surging as many Jordanian expatriates are returning to the Kingdom to spend Ramadan with their families,Jordan Times stated. Alaa Eddine Diraniyeh, president of the Jordanian Exchange Association, also indicated that large inflows of Arab tourists, mainly from the Gulf region, are also behind the increasing rush for the local currency, describing the Kingdom as a perfect destination for Arabs in light of the regional turmoil. “Jordan is the only stable and calm country in the region. It is qualified as a tourist destination in terms of security and stability.” Remittances by Jordanian expatriates are also increasing, according to the leading money changer. So far this year, Diraniyeh noted that demand for the dinar is higher by 5 to 6 per cent when compared with last year. He indicated that sometimes money changers struggle to meet the demand for the dinar as it outstrips supply. According to figures released by the Central Bank of Jordan, remittances by Jordanians working abroad reached $1.43 billion by the end of May, a 3.1 increase over the same period of last year, while tourism receipts are estimated at $1.3 billion. Around 850,000 Jordanians live abroad, mainly in Gulf countries, Interior Minister Hussein Majali told chief editors of dailies on Monday.