More cash circulating amid Melissa - BOJ
Published:Monday | December 15, 2025 | 8:19 PM
Jamaica will end 2025 with a rise in currency circulation that reflects both seasonal spending and donations to ease the impact of Hurricane Melissa, according to the Bank of Jamaica (BOJ).
“Furthermore, in response to the impact of Hurricane Melissa, December’s currency growth is expected to reflect precautionary demand for cash, increased remittance receipts, and an expected increase in inflation. This is expected to be partly offset by dampened domestic demand conditions as a result of Hurricane Melissa,” stated the BOJ in a statement on Monday.
The central bank estimates that by December’s close, the value of notes and coins issued will reach $321.6 billion, up $21 billion or 7.0 per cent from November’s stock, and 12.4 per cent higher than a year ago.
In real terms — adjusted for inflation — currency stock is expected to grow 7.2 per cent, reversing last year’s 1.8 per cent decline, the BOJ added.
For individuals recovering from the passage of Hurricane Melissa in late October, it means little comfort.
However, at a macro level, the rise means households and businesses are holding more physical money than usual.
The BOJ indicated that it issues and redeems notes and coins daily in order to meet the demand for cash from individuals and businesses. “There is normally a stronger demand for currency during the month of December, associated with increased spending over the holiday period. Financial institutions, therefore, request more currency from BOJ to satisfy this demand,” it added.
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