Mubasher: Kuwait’s foreign reserves increased by 7.2% year-on-year (YoY) in December 2019 to KWD 12.09 billion ($39.9 billion), compared with KWD 11.28 billion ($37.1 billion) in December 2018, according to official data by the Central Bank of Kuwait (CBK).

On a monthly basis, reserves went down by 1.27% in December, compared with KWD 12.25 billion ($40.4 billion) last November.

Data shows that reserves do not include foreign assets of the Kuwait Investment Authority (KIA).

By the end of last year, Kuwait's currency deposits registered KWD 11.33 billion, while special drawing right (SDR) amounted to KWD 563.9 million and reserves at the International Monetary Fund (IMF) reached KWD 165.7 million. Meanwhile, gold reserves totalled KWD 31.7 million.

Translated by: Amal A. Wahaab