Central Bank of Kuwait - Annual Report 2007-08

The Central Bank of Kuwait continued its efforts during the fiscal year 2007-08 to control domestic liquidity growth rates by taking various measures to manage the noticeable rise in credit facilities available in the country.

One major development was undoing the peg which had existed since January 2003, between the exchange rate of the Kuwaiti dinar and the dollar, passing a new decree in 2007 which re-pegged the dinar to a special weighted basket of currencies with significant foreign trade

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