KUWAIT, Central Bank of Kuwait (CBK) announced Tuesday that the broad money supply (M2) went up 1.2 percent last November to settle at KD 38.2 billion (around USD 126 billion).
Local banks’ private sector deposits increased by 1.3 percent to settle at KD 34.8 billion (around USD 114.8 billion), said the CBK’s economic research department in a release to KUNA, including statistical tables.
Private sector deposits in foreign currency increased by 0.1 percent to reach KD 1.7 billion (around USD 5.6 billion), while total local banks claims on CBK represented by CBK bonds settled at KD 3.6 billion (around USD 11.8 billion).
Total local banks’ assets rose by 0.5 percent to record KD 84 billion (around USD 277 billion), while the net foreign assets increased by 2.7 percent to 10.4 billion (around USD 34 billion).
Meanwhile, time deposits with CBK decreased last August by around 55.3 percent to reach KD 1.2 billion (around USD 3.9 billion), whereas balance of utilized cash credit rose by 0.5 percent to KD 52.3 billion (around USD 172.5 billion).
Average interest rate on one-year treasury bonds settled at 4.5 percent in November, while financing of Kuwaiti imports went down 49 percent on a monthly basis to reach KD 581 million (around USD 1.9 billion), and US Dollar exchange rate against Kuwaiti Dinar settled at 308.5 fils.
Narrow money supply indicates total volume of money in circulation including notes, coins and operational money deposits, whereas the broad money supply includes time deposits and saving accounts, as well as liquid money.
Source: Kuwait News Agency