Mubasher: Kuwait’s foreign reserves increased by 3.89% year-on-year (YoY) or KWD 460 million ($1.521 billion) in November 2019, according to the bulletin by the Central Bank of Kuwait (CBK) on Wednesday.

The foreign reserves amounted to KWD 12.255 billion ($40.515 billion), compared to KWD 11.795 billion ($38.99 billion) in November 2018.

On a monthly basis, the foreign reserves rose by 3.85% after recording KWD 11.801 billion in October 2019.

This rise is supported by a 3.92% increase in total currency and deposits to KWD 11.503 billion from KWD 11.069 billion in November 2018, alongside a 4.11% month-on-month (MoM) increase.

In December 2019, Kuwait’s reserves at the International Monetary Fund (IMF) reached KWD 156.3 million, jumping 37.83% from KWD 113.4 million in the same period in the previous year.