Data issued by the Central Bank of Kuwait showed an increase in the foreign reserve assets of the State of Kuwait last August by 5.9 percent on an annual basis amid the improvement in oil prices.
According to the report, Kuwait's reserve assets rose to 14.182 billion dinars ($45.86 billion) in August, compared to 13.381 billion dinars ($43.27 billion) in the same month of last year 2021.
On a monthly basis, reserves decreased by 1.7 percent in August, from 14.435 billion dinars ($46.68 billion) in the previous July.
Kuwait’s reserves included about 12.529 billion dinars ($40.51 billion) in deposits and currencies, in addition to about 1.33 billion dinars ($4.3 billion) in Kuwait’s special drawing rights with the International Monetary Fund, and about 234.4 million dinars (758 million dollars) is in balance with the “International Monetary Fund”.
Kuwait's foreign reserve includes gold amounting to 79 tons, calculated at the book value since its purchase, at about 31.7 million dinars (102.5 million dollars) by the end of August 2022. While the foreign reserve does not include the foreign assets of the General Investment Authority (the sovereign fund), which exceed $708.4 billion, according to the latest data of the Sovereign Wealth Funds Institute.
Source (Anadolu Agency, Edited)
