News Column

USD unchanged against Dinar at 0.281

July 2, 2014

KUWAIT, July 1 (KUNA) -- The US greenback was unchanged against the Kuwaiti Dinar on Tuesday trading at KD 0.281 while the EU currency was up to KD 0.385, said the Central Bank of Kuwait (CBK).

The CBK price bulletin also reported the pound sterling was up to KD 0.481, the Swiss franc also up to KD 0.317, and the Japanese Yen also at its usual KD 0.003.

Exchange rates were mostly stable on the heels of decisions by the US Federal Reserve, most notably the decision to keep interest at the low range of 0-0.25 percent, and a decision to cut back on purchase of mortgage-tied bonds and treasury bonds by USD 10 billion.

Meanwhile, data for the German economy, Europe's economic powerhouse, weighed the Euro down against the US dollar, with figures showing drop in inflation pressure according to the producer price index, which is an initial index for measuring official inflation rate.(end)

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Source: Kuwait News Agency

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