The latest figures issued by the Central Bank of Kuwait showed the contribution of high oil prices in global markets to an increase in the value of revenues and an increase in the volume of cash reserves. Whereas, foreign reserve assets rose in February by 0.85 percent, equivalent to $391.1 million on a monthly basis.
According to the report, reserve assets rose to more than 14 billion dinars ($46.06 billion), compared to $45.67 billion in January 2022. On an annual basis, reserves decreased by 1.8 percent in February from about $46.9 billion.
Kuwait's oil-rich reserves included about $40.5 billion in deposits and currencies, in addition to about $4.5 billion in Kuwait's special drawing rights with the International Monetary Fund. The reserves also constitute about 777.3 million dollars as a balance with the Fund.
Kuwait's foreign reserve includes 79 tons of gold, calculated at the book value since its purchase, at about $104.2 million.
Source (Al-Arab Newspaper of London, Edited)
