Kuwaiti banks' net foreign assets hit $62bln in January

Net foreign assets levelled up by 0.71% in January on a monthly basis

  

Kuwait - Net foreign assets of the Kuwaiti banking sector grew by 7.3% by the end of January 2020 to stand at KWD 19.37 billion ($63.65 billion), compared to KWD 18.05 billion ($59.31 billion) in January 2019, according to recent data by the Central Bank of Kuwait (CBK).

Month-on-month (MoM), net foreign assets registered at the central bank levelled up by 0.71% from December 2019 when they totalled KWD 19.24 billion.

Furthermore, Kuwait’s money supply went down by 1.4% on an annual basis to KWD 38.05 billion last January from KWD 38.59 billion in the corresponding month a year earlier.

MoM, the central bank's money supply inched down by 0.19% in January, compared with December 2019 as it reached KWD 38.12 billion.

Source: Mubasher

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