News Column

USD rises to KD 0.282 -- CBK

June 18, 2014

USD rises to KD 0.282 -- CBK

KUWAIT, June 18 (KUNA) -- The rate of the US dollar vis a vis the Kuwaiti dinar rose to (KD) 0.282 while the euro price dropped to (KD) 0.381 on Wednesday, compared to Tuesday's rates, the Central Bank of Kuwait (CBK) said.

The pound sterling stabilized at KD 0.478, the Swiss franc also remained unchanged, trading at 0.313 and the Japanese yen followed suit, standing at KD 0.003.

On the external front, investors' eyes focus on results of a planned US Federal Reserve key meeting, expected to end up with further stimulus tapering, due to continuing US economy's recovery The FED has halved volume of quantitative easing since start of 2014. The US central bank enacts quantitative easing by creating money and then buying bonds or other financial assets from banks, with aim of enabling the banks to have more cash to loan.

Meanwhile in Britain, attention is shifted to expected details, to be announced by the Bank of England (BoE) regarding its decision to keep the benchmark interest rate unchanged, at 0.50 percent, along with the program of stock assets purchases, at ?375 billion. (end) mfs.tb.rk

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Source: Kuwait News Agency

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