The travel of about 242,000 citizens and residents during the national holidays revived the exchange market in Kuwait, under pressure from the increased demand for remittances and currency exchange to spend abroad.
A number of money changers, in separate statements to “Al-Anba”, unanimously agreed that the market is witnessing a great recovery at the moment, especially with the demand of many citizens and residents to buy different currencies, as the Turkish lira still holds the edge of more than 50% of the total transactions in the exchange market in Kuwait for quite some time, especially as it tops the list of the most traveled destinations from Kuwait.
In this regard, Habibullah Nazat (a teller) says that the pace of work in the exchange market has been good during the last period, and that the Turkish lira controls nearly 50% of the total currencies that are bought or sold in the sector, and changes in the price of the lira contribute to increasing the demand for it as a kind of investment.
For his part, Muslim (Sarraf) confirmed that the demand is currently focused on the Turkish lira, the dollar, the euro and the pound, in addition to the Emirati dirham.
The Turkish lira is the highest this year unchallenged, because Turkey tops the list of tourist destinations from Kuwait, especially since the exchange rate of the lira currently makes the cost of the trip cheaper for citizens and residents, as they target the destinations such as Azerbaijan and Georgia, as well as the Saudi riyal for travelers heading to the Kingdom.