Central Bank: Kuwait’s money supply increases by 0.1%

(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Aug. 30 (KUNA) — Figures released by the Central Bank of Kuwait on Tuesday showed broad money supply (N2) rose 0.1 percent in July last (monthly) to reach about KD 41.7 billion (about 137.6 billion USD).
The Bank’s Economic Research Department said in statistical tables to the Kuwait News Agency (KUNA) that private sector deposits with local banks fell 0.2 percent last July to 37.1. billion KD (about $122.4 billion).
He added that private sector deposits in foreign currencies increased by 7.6% to reach 2.8 billion KD (about 9.2 billion dollars).
On the other hand, the total balances of requests from local banks to the Central Bank in KD, represented by (central) bonds, stabilized at three billion dinars (about 9.9 billion dollars). However, the total assets of local banks decreased by 0.4% to reach 81.5 billion KD (about 268.9 billion USD). In comparison, the net foreign assets of regional banks increased by 9.4% to reach 6.2 billion KD (about 20.4 billion USD).
He said term deposits with the CBK jumped about 18.8 percent last July to KD 3.8 billion (about $12.5 billion), and credit facility balances (loans) increased by 0.3% to reach KD 44.8 billion (about US$147.8 billion). billion).
average interest rates on one-year Treasury bills increased last July to 3% from 2.750% last June while Kuwaiti import financing fell 36% last July to 452 million KD (about 1.4 billion dollars). Average exchange rate of the US dollar against the dinar last July rose by 0.3% to 307.1 fils.
In a narrow sense, the money supply refers to the volume of cash for current transactions. It includes paper and coins that people exchange in day-to-day transactions and money deposited in banks in the form of current accounts or demand deposits. On the other hand, the money supply in the broad sense includes, in addition to current currency, term accounts and savings accounts. (end)


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