Central Bank Governor confirms the preservation of speculation on the dinar World
Economic Affairs

Kuwait – 1-11 (KUNA) – Kuwait’s central bank governor Sheikh Salem Abdulaziz Al-Sabah said that the bank has been following developments in daily currency exchange rates and their impact on the dinar in order to take measures to reduce speculation by the World.

The Governor said in an interview a journalist was published the day today that the bank at your monetary policy to prevent the benefit of speculators from bets on the price of the Kuwaiti dinar exchange while at the same time the continuity of the free convertibility into foreign currencies, especially after the cash flows that entered the country after the disengagement dinar, the U.S. dollar.

And what if it proves that the policy of the basket of currencies effectiveness in stabilizing the exchange rate of the dinar, bank governor said that the available data indicate the success of this policy in achieving relative stability of the dinar exchange rate against major currencies and the reduction of speculation by explaining that the effectiveness of this policy stand out in the periods under Exchange Rates in to sharp fluctuations.

The governor pointed to the movements of the dollar against the dinar as confined within narrow margins since the beginning of the year until the end of last September, so that did not exceed the difference between the highest price and lowest price of the dollar during that period an average of 1.2 per cent while the volatility of the exchange rate of dollar very large in front of several major currencies in the world.

The policy of the exchange rate of the Kuwaiti dinar is since 2007 on the basis of a basket of special weighted currencies of countries with which the country’s relations and commercial and financial head after he was the exchange rate pegged only at the exchange rate U.S. dollar.

(End) o m t / d o p KUNA 011 104 GMT Nov 10