(Bloomberg) -- Kuwait's decision to peg the dinar to
a basket of currencies gives it flexibility in setting its
exchange rate, Kuwait News Agency reported, citing central bank
governor Sheikh Salem Abdul Aziz al-Sabah.
Markets needed time to adequately absorb the new currency
arrangement that was adopted on May 20, KUNA reported, citing the
governor. The central bank has sufficient expertise in managing a
currency basket to boost monetary stability and confidence in the
dinar, he said, the state news agency reported.
Read more at Bloomberg Currencies News
a basket of currencies gives it flexibility in setting its
exchange rate, Kuwait News Agency reported, citing central bank
governor Sheikh Salem Abdul Aziz al-Sabah.
Markets needed time to adequately absorb the new currency
arrangement that was adopted on May 20, KUNA reported, citing the
governor. The central bank has sufficient expertise in managing a
currency basket to boost monetary stability and confidence in the
dinar, he said, the state news agency reported.
Read more at Bloomberg Currencies News
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