Worry less About Kuwait Currency Exchange Rates; Your Bank Has Got You Covered
Currency exchange rates are normally subject to variation and change each day. Any change in the global scenario can affect the exchange rates in any country. Kuwait currency exchange rates are also vulnerable to international situations. However, in 1025/2016, the Central Bank of Kuwait more or less stepped in to prevent speculations against the currency. It did this by using the daily fixings of its spot rates to discourage and deter traders from speculating against it. The Kuwaiti currency is pegged to a weighted basket of currencies of the country's big trading partners. While the exact composition is not known, there is a big dollar component in it, along with the Euro. The Central Bank has sent out clear signals that speculative transactions will make it step into the market and defend the Kuwaiti Dinar. All the banks follow the rules laid down by the Central Bank, and therefore there is no cause for any serious worry about exchange rates. ...