CBK: Kuwait’s money supply increased to KD 39.2bn in March

KUWAIT: 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 in March, reaching KD 39.2 billion (around $129.3 billion).

The CBK’s economic research department revealed in its data, obtained by KUNA, that residents’ private sector deposits in Kuwaiti dinar increased by 0.4 percent to KD 35.8 billion (around $118 billion). The residents private sector deposits in foreign currency went down by 1.1 percent to KD 1.7 billion (an estimated $3.6 billion).

The statement also revealed that local banks claims on CBK went up to reach KD 3.4 billion (around $11.2 billion). Local banks’ total assets decreased by 0.8 percent to register KD 85 billion (around $280 billion), while net foreign assets went up by one percent KD 10.1 billion (around $33.3 billion). Time deposits with the CBK jumped last March by 76 percent to KD 2.6 billion (estimated $8.5 billion). Balance of utilized cash credits facilities decreased by 0.6 percent to KD 52.3 billion (an estimated $172.5 billion). Interest rate (return) on one-year treasury bonds remained stable at 4.5 percent last March.

Financing of Kuwaiti imports leapt by 60.3 percent top KD 1.1 billion (around $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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