Kuwait’s foreign exchange reserves decreased by 3.84% in June 2023, from 13.98 billion dinars in May to 13.44 billion dinars in June, Al-Anbaa reported. The country’s foreign exchange reserves are the total cash balances, accounts, bonds, certificates of deposit, treasury bills, and foreign currency deposits with the Central Bank of Kuwait. These cover Kuwait’s import needs for more than 13 months, which is well above the global average of three months.
According to the World Gold Council, Kuwait’s gold reserves remain at 79 tons. The book value of this amount of gold is 31.7 million dinars, which is based on the prices at the time of purchase and not the current market value.
Moreover, The Central Bank of Kuwait’s total assets reached 13.808 billion dinars, according to its monthly bulletin. The majority of these assets, 13.443 billion dinars, are liquid foreign reserves. The remaining assets are gold reserves, valued at 31.74 million dinars, and other reserves, valued at 332.8 million dinars. Foreign assets are a measure of a country’s external financial strength and its ability to withstand pressure on its currency.
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