Kuwait's monetary reserve at the International Monetary Fund recorded its highest historical levels after a rise for the fourth consecutive month during last December, ending the year 2020 at 219.2 million dinars, with an annual increase A rate of 32.2%, at a value of 53.5 million dinars, compared to its levels of 165.7 million dinars at the end of December 2019.
According to Central Bank of Kuwait data, the cash reserve at the International Monetary Fund is the amounts of foreign currencies that a member country may withdraw from the International Monetary Fund within a short period, and indebtedness The International Monetary Fund (by virtue of a loan agreement) in the public resource account, and it shall be at the disposal of the member country, including lending the country the amount to the IMF under general borrowing agreements, new borrowing agreements, and claims on the fund issued with special drawing rights shall be considered foreign currency claims. / p>
And Al-Anbaa newspaper stated that the volume of SDRs amounted to about 564.5 million dinars during the month of December, the same level as November 2020, which are international reserve assets created by the Fund. The International Monetary Fund is a reserve asset that complements the reserve assets of the member countries of the Fund, and the Fund distributes the special drawing rights among its members based on the proportions of their shares in the Fund.
The total currency and deposits increased by the end of last December, reaching 13.83 billion dinars, an increase of 1% compared to 13.69 billion dinars during the month of November 2020.
>
and what is meant by deposits here are deposits available on demand, which are deposits available with foreign central banks, the Bank for International Settlements and other banks.
The currency also consists of paper and coins in circulation from foreign currencies and generally used to make payments, with the exception of commemorative coins.
