NO. 30


Financial and Banking News

Regional Banking

Kuwaiti Central Bank Raises Discount Rate

The Central Bank of Kuwait has raised its discount rate from 7.0% to 7.25% inorder to pre-empt capital flight and shore up the value of the dinar. The dinaris linked to an undisclosed basket of currencies, but 70% of its value isbelieved to be determined by the US dollar. As a result, the dollar's currentweakness against the German mark and the Japanese yen has been directly...