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KUWAIT CITY, Feb 8: The Kuwaiti dinar will not be affected by the ratings or inflation due to the strong backing offered by the future generation funds and general reserves, reports Al-Nahar daily quoting informed sources. They explained that nearly one trillion dollars of reserves, assets and gold support the Kuwaiti dinar’s continuation as the strongest currency in the world.
The stability and strength of the Kuwaiti dinar compared to other currencies is due to the integrated precautionary policies followed by the Central Bank, which does not allow temporary factors such as the decline of the rating or the like to have an impact. The sources indicated that there are a large number of factors that back and support the dinar to swing away from the usual economic events and influences. They also described the Kuwaiti banking sector as the strongest in the Gulf region and the Middle East due to its huge financial allocations and cautious monetary policy that focuses on the stability and strength of the local currency, adding that the decline in credit ratings will have no effect