BOJ Projects $152.4Bn in Circulation for December

• The Bank of Jamaica (BOJ) is projecting a $2.4Bn increase in total currency in circulation during December to $152.4Bn, relative to the sum in November, in keeping with heightened activities associated with the festive Christmas season. 
• In a statement on Tuesday December 17, the Bank said the projection represents a 14.1% increase, compared to 20.4% for the corresponding period in 2018. 
• The BOJ noted that the forecast is generally consistent with the five-year average growth of 17.6% for the month of December. 
• According to the BOJ, net currency issued between December 1 and 13 this year stood at $1.2 billion (0.9%), which was $1Bn lower than the corresponding period last year. 
• The Bank further pointed out that the stock of currency in the hands of the public as also the vaults of financial institutions, as at December 13, totalled $131.2Bn.

(Source: JIS)