Kuwait - The foreign reserve in Kuwait increased by 2% to KWD 11.02 billion in September 2019, registering a value that is KWD 221 million higher than the previous month, Al Anba Newspaper reported on Monday.

Kuwait's foreign reserve reached its highest level at KWD 11.215 billion in May 2019.

The country’s foreign reserve represents all of the cash balances, bank accounts, bonds, certificates of deposit, treasury bills, and foreign currency deposits at the Central Bank of Kuwait (CBK).

The Kuwaiti gold reserve remained unchanged at 79 tonnes, according to the World Gold Council (WGC). Kuwait’s book value of this quantity of gold amounts to KWD 31.7 million based on the purchase prices and not the current market value.

At the GCC level, Kuwait ranks third in its holdings of the foreign reserves, following Saudi Arabia as the first and the United Arab Emirates as the second.

Source: Mubasher

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