41 MILLION DINARS, AN INCREASE IN KUWAIT'S FOREIGN EXCHANGE RESERVES

  • 16/08/2022

Kuwait City: The cash reserve of Kuwait rose by the end of last July to reach the level of 12.78 billion dinars, with an increase on a monthly basis of 0.32% and an increase of 41 million dinars during the month, compared to 12.74 billion dinars in the month of June, knowing that the cash reserve reached the highest historical level. His in October last year when he reached 13.88 billion dinars.


The country's foreign exchange reserves represent the total cash balances, accounts, bonds, certificates of deposits, 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 the liquid foreign exchange reserve, not counting gold, covers 3 months of the average value of imports.

As usual for 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 13.03 billion dinars, distributed among liquid foreign reserves, which represent the bulk of 12.78 billion dinars, in addition to gold reserves with a value of 31.74 million dinars and other reserves of 186.89 million dinars.

Foreign assets measure the strength of the external financial position and the ability to resist pressures on the local currency. The total value of securities and coins in July amounted to about 2.052 billion dinars, a decrease of 101 million dinars, or 4.7% from last June, which amounted to 2.153 billion dinars, divided into 2.021 billion dinars. 31.044 million dinars.

The 20-dinar banknotes fell during the month of July to reach 1.172 billion dinars, compared to 1.211 billion dinars last June.

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