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Kuwait’s reserve $39.2bn: Central Bank of Kuwait

KUWAIT CITY, July 16, (KUNA): State reserve assets amounted to KD 11.9 billion ($39.2 billion) at the end of May, the Central Bank of Kuwait said on Tuesday.

These assets are made up of cash, gold, Kuwaiti reserves with the International Monetary Fund, special drawing rights, the currency and deposits – excluding external assets of the Public Investment Authority. The official state assets are at the disposal of the relevant monetary authorities to meet needs of the balance of payments’ funding or for intervention in the market to affect exchange rates.

The CBK said in a press release that overall currency and assets reached, at the end of May, KD 11.2 billion ($36.9 billion), including paper and metallic banknotes namely foreign currencies in circulation for securing payments.

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