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Kuwait allows big dinar rise

Kuwait City, March 16, 2008

Kuwait let its dinar currency rise 0.79 percent against the dollar on Sunday, the second-biggest one-day jump since it dropped its peg to the US dollar in May, and taking the cumulative gain to 8.29 percent.

The dinar will trade around a mid-point of 0.26700 against the dollar, versus 0.26910 on Thursday.

That is the biggest jump since July 25 when the central bank allowed it to rise 1.74 percent. - Reuters




Tags: Kuwait | Dinar |

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