KUWAIT, July 29 (KUNA) -- The Central Bank of Kuwait (CBK) slightly lowered the value of the Kuwaiti dinar against the US dollar, by around 0.050 percent, after the dollar witnessed a rise against the main foreign currencies in the past two days.
In a statement online, CBK said the exchange rate for the dinar is now 282.40 fils to the dollar. The previous figure was 281.95 fils to the dollar.
Director General of Al-Muzaini Exchange Company Jamal Zayed told KUNA CBK's decision to adjust the price of the dinar was due to the rise of the dollar exchange value in international markets.
Whether the dollar rises or decreases, it will always have an effect on the value of the Kuwaiti dinar, but the policy of CBK aims at protecting the dinar from any changes in the currency markets.
Four days ago, CBK had raised the value of the Kuwaiti dinar by 1.7 percent in response to a drop in the US dollar.
By Mohammad Kamal
