|16 July, 2019

Kuwaiti central bank international assets hit $39.4bln in May

On a monthly basis, Kuwait’s foreign currency reserves went up 0.42% in May from $39.10bln in April

A Lebanese banker counts U.S. dollars at BLOM Bank's head office in Beirut October 22, 2008.

A Lebanese banker counts U.S. dollars at BLOM Bank's head office in Beirut October 22, 2008.

REUTERS/Jamal Saidi

Kuwait foreign reserves grew 1.61% year-on-year in May, according to a report released on Tuesday by the Central Bank of Kuwait (CBK).

The country’s international reserves rose to $39.37 billion in May, compared to $38.748 billion in the year-ago period.

On a monthly basis, Kuwait’s foreign currency reserves went up 0.42% in May from $39.10 billion in April.

The CBK ascribed the growth in the Kuwaiti international reserves to a 1.42% year-on-year increase in the bank’s total deposits and currency, which reached $36.85 billion in May.

Source: Mubasher

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