Mon | Sep 25, 2017

Demand for Christmas cash running ahead of projection

Published:Thursday | December 24, 2015 | 12:56 AM
According to the Bank of Jamaica, from December 14 to 18, there was a net increase of $9.3 billion in circulation or a 12.9 per cent increase in the currency stock.

The Central Bank is reporting that the demand for cash this Christmas season is running ahead of projections.

According to the Bank of Jamaica, from December 14 to 18, there was a net increase of $9.3 billion in circulation or a 12.9 per cent increase in the currency stock.

The Bank had projected a 12.1 per cent increase.

The BOJ also says when compared with last year, more money was issued in the December 14-18 period this year.

Last year, there was an increase of $7.4 billion or 11.4 per cent in the currency stock.

The BOJ says it is forecasting that the currency issue will peak at $13.4 billion by Christmas Day.