'Central Bank': Broad money supply rises 0.2% to KD 42.8 billion in September
The Central Bank of Kuwait announced a 0.2% rise in broad money supply to KD 42.8 billion in September, with increases in deposits and loans and a stable exchange rate.
Translated by Qiyas from السياسة — Original source
The Central Bank of Kuwait announced on Monday that the broad money supply (M2) rose by 0.2% in September on a monthly basis, reaching 4.28 billion Kuwaiti dinars (approximately $14.12 billion).
The bank’s Economic Research Department stated in statistical tables provided to the Kuwait News Agency (KUNA) that private sector deposits in local banks in Kuwaiti dinars increased by 0.1% in September to reach 3.88 billion dinars (approximately $12.82 billion).
It added that private sector deposits in local banks in foreign currencies rose by 2.3% to reach 2.3 billion dinars (approximately $7.4 billion).
The department clarified that total assets of local banks increased by 1.1% in September to 10.59 billion dinars (approximately $34.94 billion), while net foreign assets of local banks rose by 1.7% to 1.72 billion dinars (approximately $5.67 billion).
It noted that time deposits at the Central Bank of Kuwait fell by 41.3% in September to 193 million dinars (approximately $636.9 million), while balances of monetary credit facilities (loans) increased by 0.6% to 6.6 billion dinars (approximately $21.78 billion).
The administration indicated that financing for Kuwaiti imports surged by 26.4% in September to 359.6 million dinars (approximately $1.2 billion), while the average exchange rate of the US dollar against the dinar remained stable at 307.1 fils during the month.
