KUWAIT CITY, February 6: The Central Bank of Kuwait (CBK) announced on Sunday that the broad money supply (M2) fell by 0.6% last December to 38.9 billion KD (128 billions of dollars). Private sector deposits of local banks fell 1.9 percent to 2.2 billion KD ($7.4 billion), CBK’s economic research department said in a statement to KUNA. , including statistical tables.
Private sector foreign currency deposits decreased by 1.9% to KD 2.2 billion (USD 7.4 billion), while local banks’ total claims on CBK represented by CBK bonds stood at 2.9 billion KD (9.6 billion USD). Local banks’ total assets increased by 0.8% to a record KD 77 billion (USD 245 billion), while net foreign assets increased by 1.6% to reach KD 6 billion ( US$19.8 billion).
Meanwhile, term deposits with the CBK decreased last December by about 9.7% to KD 2.9 billion ($9.4 billion), while the balance of cash credit used increased. by 0.4% to reach 42 billion KD (138.6 billion dollars). The average interest rate on one-year treasury bills stood at 1.375% while financing of Kuwaiti imports fell by 26.9% last December to 539 million KD (1.7 billion KD). dollars), and the exchange rate of the US dollar against the Kuwaiti dinar stood at 302 fils. Narrow money supply indicates the total volume of money in circulation, including banknotes, coins and operational monetary deposits, while broad money supply includes time deposits and savings accounts as well as liquid currency. (KUNA)