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.
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