Ammon News - The Jordanian dinar witnessed strong demand throughout 2024, bolstered by robust domestic and Arab tourism, according to the Secretary-General of the Jordanian Exchange Association, Alaa Diraniyeh. This surge in demand significantly contributed to the revitalization of the local currency exchange market.

Diraniyeh highlighted that remittances, both incoming and outgoing, increased by approximately 3% compared to previous years. He attributed this growth to improved tourism activity and steady economic transactions within the region.

Looking ahead, Diraniyeh anticipates a stronger recovery in the exchange market in early 2025, driven by global and regional economic developments. The potential depreciation of European currencies, coupled with rising interest rates on the U.S. dollar, is expected to influence market trends.

However, he noted that local trade activity was negatively affected in 2024 by the Israeli aggression on Gaza. He expressed optimism that Jordan’s markets could regain momentum if commercial activity between Jordan and Syria resumes, restoring its role as a critical trade gateway to Turkey and Europe. Petra