Money Supply up last March at KD 39.2 bln

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KUWAIT CITY, May 7: The Central Bank of Kuwait (CBK) announced on Sunday that its data for the “Monthly Monetary Statistics” showed that the Money Supply (M2) went up by 0.4 percent last March, reaching KD 39.2 billion (around USD 129.3 billion).

The CBK’s economic research department revealed in its data, obtained by KUNA, that Residents Private Sector Deposits (RPSD) in Kuwaiti Dinar increased by 0.4 percent to KD 35.8 billion (around USD 118 billion). The Residents Private Sector Deposits in Foreign Currency went down by 1.1 percent to KD 1.7 billion (an estimated USD 3.6 billion). The statement also revealed that local banks claims on CBK went up to reach KD 3.4 billion (around USD 11.2 billion). Local banks total assets decreased by 0.8 percent to register KD 85 billion (around USD 280 billion), while net foreign assets went up by one percent KD 10.1 billion (around USD 33.3 billion).

Time deposits with the CBK jumped last March by 76 percent to KD 2.6 billion (estimated USD 8.5 billion). Balance of utilized cash credits facilities decreased by 0.6 percent to KD 52.3 billion (an estimated USD 172.5 billion). Interest rate (return) on one-year treasury bonds remained stable at 4.5 percent last March. Financing of Kuwaiti imports leaped by 60.3 percent top KD 1.1 billion (around USD 3.6 billion), while average USD exchange rate against KD (fils) went up by 0.3 percent last March to 306.6 fils. (KUNA)

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