gulfnews : Kuwait's central bank assets drop in June

The value of foreign assets held by Kuwait's central bank declined by 10.6 per cent in June, compared with the month earlier, data from the country's monetary authority showed yesterday.

Total foreign assets held by the central bank stood at 6.1 billion Kuwaiti dinars (Dh81.8 billion) in June, compared with 6.8 billion dinars in May, according to data posted on its website. On the year, the central bank's assets were up 13.4 per cent in June.

'The central bank of Kuwait's balance sheet tends to become larger when foreign exchange comes into the country and smaller when the foreign exchange outflows occur,' said Giyas Gokkent, National Bank of Abu Dhabi's chief economist.

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