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Figures from the Central Bank of Kuwait (CBK) revealed Sunday a 2% increase in money supply (M2) of 2.9 billion KD (128 billion USD) in June.
Private sector deposits with local banks, in Kuwaiti dinars, amounted to 34.5 billion dinars (about 113.8 billion dollars), said the bank's economic studies department in the statistical tables of the Kuwait News Agency (KUNA).
Private sector foreign currency deposits jumped 9.1% in January to 2.5 billion dinars ($ 2.8 billion), bringing total private sector deposits to 37 billion dinars (about $ 122 billion). of dollars).
The total balance of claims of local banks on the central bank denominated in Kuwaiti dinar, which are bonds of the central bank last June, stabilized at 2.9 billion dinars (about 9.5 billion dollars). ).
Total badets of local banks increased by 1.1 percent to 68 billion dinars (about 224 billion dollars).
The tables show that the net foreign badets of local banks increased by 5.5 percent last June to 7.7 billion dinars (about $ 25.4 billion), while term deposits decreased by 9 percent. to reach 1.4 billion dinars (about $ 4.6 billion). ).
The credit facilities used by residents increased 0.8% in June compared to May to reach KD 37.8 billion (US $ 124.7 billion), while average interest rates Treasury sank at one year to 25.3%.
Imports of Kuwaiti financial products decreased 1% to KD 313 million (about US $ 1 billion) in June, while the average exchange rate of the US dollar against the Kuwaiti dinar decreased by 0.1% in June, to settle at 303.5 children per dollar.
Total net badets of the Central Bank decreased by 3.6 percent to KD 10.9 billion (about US $ 35.9 billion), while net foreign badets decreased by 4 percent to KD 10.6 billion ( $ 34.9 billion).
Money supply is a term used to express the quantity and volume of money exchanged in the economy. It is divided into two main types: the narrow money supply and the broad money supply.
Money supply, in its narrow sense, refers to the cash flow of current transactions, including paper and metal currencies traded by persons in their daily transactions, and sums deposited in banks as current or demand deposits. .
Broad money, in addition to the current currency, includes term deposits and savings accounts.
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