USD stable against KD at 0.281 per greenback
KUWAIT, Aug 13 (KUNA) -- The exchange rate of the US dollar against the Kuwaiti dinar stood at KD 0.281, the euro is up to KD 0.364 compared to yesterday's figures, said the Central Bank of Kuwait (CBK) on Monday.
The exchange rate of the sterling came down to KD 0.441. The Japanese yen remained unchanged at KD 0.003 and the Swiss franc was also the same at KD 0.288. Analysts believe that rising public debt in Italy has increased the pressure on decision makers in the third-largest economy in the euro zone amid a worsening Italian debt crisis, in addition to the expectations that Italy may follow suit of Spain and request a bailout from third parties, which pushed returns on bonds to high levels.
They said that future economic prospects of the US economy seemed confused but there is hope among some investors that the US economy may recuperate at a faster pace among the major economies in the world in light of the economic turmoil facing the European region.
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