Published On: Fri, Jan 2nd, 2015

Money supply rises by 2.7 pct in Nov. – CBK

Central Bank of Kuwait

Central Bank of Kuwait

The Central Bank of Kuwait (CBK) on Thursday said local money supply (M2) rose by 2.7 percent in November, compared to October, to hit KD 33.7 billion.
According to the CBK Economic Research Department Monthly Monetary Statistics, total private sector deposits in local banks in November were KD 32.3 billion.
Resident private sector deposits were up by 1.5 percent to KD 29.3 billion, and those in foreign currencies increased by 19.4 percent to KD 2.9 billion.
As for the total assets of local banks in November, they rose to KD 55.09 billion, the CBK said. Assets in foreign currencies were also up by 7.1 percent to KD 7.2 billion.
The CBK monthly bulletin said non-resident deposits in KD jumped by 14.2 in November to KD 861.8 million, while those in foreign currencies fell by 1.3 percent to USD 2.9 billion.
Financing of Kuwaiti imports in November leapt by 41.5 percent to KD 942 million, and the average US exchange rate against the KD rose by 0.7 percent, to 290.58 fils for a dollar.
Total assets at the CBK in the month rose by 0.2 percent to KD 9.04 billion. Net foreign assets were also up by 0.2 percent to KD 8.9 billion.

Source : KUNA Kuwait News agency

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