Kuwait's CBK: Money Supply down last Jan to KD 38.9 bln

KUWAIT, March 7 (KUNA) -- The Central Bank of Kuwait (CBK) announced on Thursday that its data for the "Monthly Monetary Statistics" showed that the Money Supply (M2) went down by 0.1 percent last January, to KD 38.9 billion (around USD 128.3 billion).

The CBK's economic research department revealed in its data, obtained by KUNA, that Residents Private Sector Deposits in Kuwaiti Dinar decreased by 0.1 percent to KD 35.4 billion (around USD 117 billion).
The Residents Private Sector Deposits in Foreign Currency went up by 2.4 percent to KD 1.8 billion (an estimated USD 5.9 billion).
The statement also revealed that local banks claims on CBK was stable at KD 3.3 billion (around USD 11 billion).
Local banks total assets decreased by 0.6 percent to register KD 87 billion (around USD 287 billion), while net foreign assets went up by 4.5 percent KD 12.7 billion (around USD 41.9 billion).
Time deposits with the CBK was down last January by 11.1 percent to KD 1.2 billion (estimated USD 3.9 billion).
Balance of utilized cash credits facilities increased by 0.5 percent to KD 53.8 billion (an estimated USD 177.5 billion).
Interest rate (return) on one-year treasury bonds remained stable at 4.6 percent last December. Financing of Kuwaiti imports fell by 32.2 percent to KD 555.6 million (around USD 1.8 billion), while average USD exchange rate against KD (fils) went down 0.1 percent last January to 307.3 fils. (end) fnk.gta.