KUWAIT CITY: Money supply (M2) rose by 0.1 percent to KD 35.6 billion last November, compared with the previous month, showed latest statistics of the Central Bank of Kuwait (CBK).
The private sector’s deposits at local banks stabilized at KD 31.1 billion in November, while deposits in foreign currencies climbed by 2.1 percent to KD 2.9 billion, thus bringing the private sector’s total deposits to KD 34 billion. Local banks’ claims on the CBK, involving CBK bonds and related Tawarruq, dropped by 2.3 percent to KD three billion in November, while local banks’ assets increased by 0.1 percent to KD 60 billion.
Local banks’ net foreign assets dwindled by one percent to KD eight billion in November, as forward deposits with the CBK dropped by 13.9 percent to KD one billn in the same month.
Conventional investment companies’ total assets dropped by 0.1 percent to KD 3.7 billion in November, as Islamic investment firms’ assets rose by 3.3 percent to KD 4.3 billion, bringing these companies’ total assets to around KD eight billion.
The balance of utilized cash credit facilities to residents fell by 0.1 percent to KD 34 billion in October, while interest rate (return) on one-year treasury bonds stood at 1.25 percent.
The financing of Kuwaiti imports (paid up) fell by 9.4 percent to KD 340 million in November, while the average US exchange rate against KD was 303.6 fils.
