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Kuwaiti dinar drops against US dollar


k98nights
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Kuwaiti dinar drops against US dollar

Economics 3/13/2011 12:32:00 PM

KUWAIT, March 13 (KUNA) -- Rate of the Kuwaiti dinar dropped vis a vis the US dollar to KD 0.277 but rose against the euro, 0.386, compared to the Thursday rates.

The Central Bank of Kuwait said in its daily e-bulletin that the rate of the natinal currency dropped against the sterling, KD 0.446, but remained unchanged at KD 0.003 against the Japanese yen, as well as the Swiss franc, KD 0.298.

Euro rate has posted a record hike due to forecast revelations about the Germany economy regarding inflation, due to reach the highest level in two years, fuelling speculations that the European Central Bank might increase the interest rate.

Following economic statements from China and the Japanese quake that pushed benchmarks of the Asian stock markets down, today's news curbed prospects of sharp hike of inflation in the UK. (end) mfs.ysa.rk KUNA 131232 Mar 11NNNN

http://www.kuna.net.kw/NewsAgenciesPublicSite/ArticleDetails.aspx?id=2151817&Language=en

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