At The End Of July, Kuwait Had 12.78 Billion Dinars In Cash Reserves

At the end of July last year, Kuwait's cash reserves were 12.78 billion dinars, an increase of 0.32% and a 41 million dinar increase on a monthly basis, up from 12.74 billion dinars in June, when the cash reserve reached its highest historical level in October of last year at 13.88 billion dinars.

Kuwait's foreign exchange reserves consist of its cash balances, accounts, bonds, certificates of deposit, treasury bills, and foreign currency deposits. Kuwait's liquid reserves cover its import needs for more than 13 months, four times more than the global average, according to a local Arabic daily, where the safe limit is that the liquid foreign exchange reserve, excluding gold, covers 3 months' worth of imports on average.

Kuwait's gold reserves, according to the World Gold Reserve Council, have remained unchanged from previous years, at 79 tons. Based on the price at the time of purchase, the book value of that amount of gold is 31.7 million dinars, not the current market value.

A monthly bulletin from the Central Bank of Kuwait shows that the bank holds 13.03 billion dinars in assets, of which 12.78 billion dinars come from liquid foreign reserves, while 31.74 million dinars are held in gold reserves and 186.89 million dinars are held in other reserves.

The value of foreign assets reflects the strength of the country's external financial position as well as its ability to withstand foreign currency pressures. In July, the total value of securities and coins was 2.052 billion dinars, down 101 million dinars, or 4.7%, from last June, when it was 2.153 billion dinars, divided into 2.021 billion dinars. A total of 31.104 million dinars.

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