$ 34 billion foreign assets of the Central Bank of Kuwait

$ 34 billion foreign assets of the Central Bank of Kuwait

Central Bank of Kuwait – Archive

Kuwait’s total foreign assets rose to 10.256 billion dinars ($ 34 billion) in April, official data showed on Sunday. According to the monthly report of the Central Bank of Kuwait, the number of foreign assets registered in April last year, the highest for more than five years, according to data available on the site. Kuwait’s total foreign assets stood at 9.989 billion dinars ($ 33.06 billion) in March, and 9.520 billion dinars (31.5 billion dollars) in the corresponding period of 2017. The foreign reserve assets of the Central Bank of Kuwait, according to the data, consist of deposits and foreign balances, as well as gold reserves. The value of deposits and foreign assets is 10.224 billion dinars (33.85 billion dollars), while the value of the country’s reserves of gold, about 31.7 million dinars (105 million dollars). Kuwait has no foreign assets in investment portfolios, treasury bills, bonds and other securities, or reserves with the International Monetary Fund. Foreign reserve assets have recovered gradually since last year as crude oil prices rebound, the nation’s main source of income. Kuwait is an oil producer and a member of the Organization of the Petroleum Exporting Countries (OPEC), with an average daily production of about 2.702 million barrels.

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