|07 November, 2019

Kuwait’s foreign reserves rise 6%

Foreign reserves reached $38.868bln in September 2019

Image used for illustrative purpose. Kuwait City at sunset.

Image used for illustrative purpose. Kuwait City at sunset.

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Kuwait’s foreign reserves rose by 6.36% year-on-year (YoY) last September, as shown by the Central Bank of Kuwait (CBK) data.

Foreign reserves reached KWD 11.772 billion ($38.868 billion) in September 2019, compared with KWD 11.068 billion ($36.544 billion) for the same period in 2018.

On a monthly basis, reserves increased by 1.89%, compared with KWD 11.553 billion ($38.145 billion) in August.

Growing reserves were supported by a 6.56% YoY rise in currencies and deposits to KWD 11.021 billion.

The book value of gold reserves stabilised at KWD 31.7 million.

Meanwhile, Kuwait’s ready reserves at the International Monetary Fund (IMF) increased by 38.07% to KWD 156.3 million, up from KWD 113.2 million in September 2018.

Source: Mubasher Exclusive

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