Central Bank Of Kuwait: We Are Committed To The Strength Of The Dinar
Against the background of an economic report published by some social media on the devaluation of the dinar, the Central Bank of Kuwait stressed its commitment to the strength of the local currency and the stability of its exchange rate.
In a tweet on Twitter yesterday, the Central Bank affirmed its commitment to maintaining the stability of the dinar exchange rate, in a way that guarantees its purchasing power, adding that it will continue its commitment to policies aimed at strengthening the currency and maintaining financial and monetary stability in the country.
Al-Monitor had published a report by journalist Sebastian Castoule, in which he quoted reliable sources as saying that Kuwait intends to reduce the value of the dinar by about 25%, pointing out that “this measure will have a tremendous impact on the living conditions of citizens and residents.”
“Economic reforms are required in Kuwait more than anywhere else in the Gulf,” the report quoted James Swanston, an economist specializing in the Middle East and North Africa at Capital Economics.