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Monday , September 28 2020

CBK governor affirms strength of KD exchange rate

KUWAIT, July 18: Governor of the Central Bank of Kuwait (CBK) Dr. Mohammad Al-Hashel affirmed the financial strength of Kuwait and the resilience of the KD exchange rate vis-à-vis other currencies.

Governor of the Central Bank of Kuwait, Dr Mohammed Al-Hashel

“Among the fundamentals of the CBK monetary policy is to maintain the stability and strength of KD exchange rate,” Dr. Al-Hashel told KUNA on Saturday.

“The reports of the world-renowned credit rating agencies, including the latest report of Standard and Poor’s (S&P), affirmed that Kuwait pursues a prudent and resilient monetary policy,” he pointed out.

Dr. Al-Hashel attributed the stability of the exchange rate to the KD pegging to a basket of currencies and the maintenance of robust reserves of foreign currencies.(KUNA)

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