Official data issued by the Central Bank of Kuwait showed that Kuwait's foreign reserve assets in February 2023 increased by 14.5 percent year-on-year.
According to the monthly report of the Central Bank of Kuwait, foreign currency reserves rose to 16.046 billion dinars ($ 52.5 billion) in February, compared to 14.016 billion dinars ($ 45.89 billion) at the end of the same month of 2022.
On a monthly basis, Kuwait's foreign reserves increased by 8.34 percent, compared to 14.811 billion dinars ($48.49 billion) in January.
Kuwait's reserves included about 14.39 billion dinars ($47.1 billion) in deposits and currencies. It also included KD 1.34 billion ($4.38 billion) Kuwait's Special Drawing Rights (SDR) with the International Monetary Fund, as well as KD 234.7 million ($876 million) with the IMF.
Kuwait's foreign reserves include gold (79 tons calculated at book value since its purchase) of about KD 31.7 million ($104 million). Foreign reserves do not include the foreign assets of the General Investment Authority (sovereign fund), which exceed $750 billion, according to the latest Sovereign Wealth Fund Institute data.
Source (Anadolu Agency, Edited)
