The Foreign Reserves Of Kuwait Increased By 9% In July

The Central Bank of Kuwait provided official data indicating that Kuwait's foreign reserves increased by 9.09 percent on an annual basis as of the end of July, supported by special drawing rights, foreign currency reserves, and direct deposits abroad (direct deposits).

Kuwait's official reserves as of July 2021 were worth KD 14.435 billion ($ 47.001 billion), compared to KD 13.233 billion ($ 43.087 billion) in July 2021. On a monthly basis, the value of Kuwait’s foreign reserves increased in July by 0.28 percent from KD 14.394 billion in June. However, the value of Kuwait’s foreign reserves does not include the assets of the state’s sovereign fund, which ranks fourth in the world at $ 708.42 billion.

In July, foreign currency and deposits abroad increased by 3.56 percent to KD 12.783 billion, up from KD 12.343 billion during the same month in 2021, with a monthly growth of 0.32 percent.

In July 2021, the special drawing rights amounted to KD 573.4 billion. Last month, they amounted to KD 1.339 billion, an increase of 133.68 percent compared to KD 573.4 billion in July 2021. On the other hand, the item of reserve status with the International Monetary Fund decreased by 0.89 percent to reach KD 234.4 billion in July, compared to KD 236.5 billion in the same month last year. The book value of the gold reserves continued to remain stable at KD 31.7 million. Securities abroad, which include highly liquid securities, equity and marketable debt instruments, stabilized at KD 47.4 million.

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