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FINANCIAL NEWS
Kuwait’s money supply slips to $86.5b in May
29 Jun 2010
(MENAFN) A report issued by the Central Bank of Kuwait (CBK) showed that the country?s money supply (M2) has amounted to $86.5 billion by the end of May this year, compared with $86.8 billion a month before, Kuna reported.
The CBK’s Economic Research Department said in its report that private deposits for residents in local banks were $83.7 billion last month.
Local banks’ claims on CBK were $4.01 billion, while net foreign assets amounted to around $17.7 billion in May against $17.3 billion in the month before.
Kuwait?s net foreign assets dropped by 2.5 percent to $14.3 billion in May, down from $14.67 billion the month before, the CBK said.
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