Kuwait money supply rises 0.9% in November

22 Dec 2010

(MENAFN) A report issued by the Central Bank of Kuwait showed that the country’s broad money supply grew by 0.9 percent in November from the previous month to reach $89.95 billion, Reuters reported.

According to the central bank, private sector deposits at the local banks reached $87.14 billion last November with deposits in Kuwaiti dinar rising by 0.6 percent, while deposits in foreign currencies soared by five percent to hit $7.84 billion.

The same report said that the total local banks accounts in CBK in Kuwaiti dinar and represented by the CBK bonds remained unchanged for the third consecutive month.

It concluded by saying that average interest rates for the treasury bills for a year remained at 1.2 percent, while the USD rate of exchange dropped by 0.6 percent in November for the second consecutive month.

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