650 MILLION DINARS DECLINE IN KUWAITI FOREIGN EXCHANGE RESERVES

  • 24/07/2022

Kuwait City: The cash reserve of Kuwait decreased by the end of last June to reach the level of 12.74 billion dinars, a decrease on a monthly basis of 4.85%, and a decrease of 650 million dinars during the month, compared to 13.39 billion dinars last May, knowing that the cash reserve reached its highest historical level. Last October, when it reached 13.88 billion dinars.


The country’s foreign exchange reserves represent the total cash balances, accounts, bonds, certificates of deposit, treasury bills, and foreign currency deposits with the Central Bank of Kuwait. By calculating the liquid reserves, we find that they cover Kuwait’s import needs for more than 13 months, which is 4 times more than the global average, where the safe limit is that Covers liquid foreign exchange reserves - not counting gold -

3 months from the average value of the country's imports. As usual in all previous years, Kuwait’s gold reserves have not changed, which settled at 79 tons, according to the World Gold Reserve Council. The book value of that amount of gold in Kuwait is 31.7 million dinars, according to prices at the time of purchase and not at the current market value.

According to the monthly bulletin of the Central Bank of Kuwait, the bank’s total assets amounted to 12.96 billion dinars, distributed among liquid foreign reserves, which represent the bulk of 12.74 billion dinars, in addition to golden reserves worth 31.74 million dinars and other reserves by 186.95 dinars.

Foreign assets measure the strength of the external financial position and the ability to resist pressures on the local currency.

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