The exchange rate of the US dollar against the Kuwaiti dinar was stable at KD 0.288 on Tuesday, while the Euro rose to KD 0.367 compared to yesterday’s rates.
The Central Bank of Kuwait said in its daily bulletin that the Sterling Pound dropped to KD 0.463, the Swiss Franc rose to KD 0.303, while the Japanese Yen was stable at KD 0.003.
The euro continues to rise against the US dollar, which faces challenges connected to the statement of the Deputy Governor of the Federal Reserve saying that the raise in interest rates will be delayed. The dollar’s performance is also affected by fears of a slow development rate of the international economy.
As for the euro zone, there are worries of the German economy (the largest in the continent) going into recession, after unexpected negative reports about manufacturing and exports were released last week.
Source : KUNA Kuwait News agency
