Kuwaiti Dinar unchanged for days September 1, 2008
Posted by mylastresort in analysis.Tags: Central Bank of Kuwait, Chart, Dinar, Dollar, Dollar KD, Graph, KWD
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KWD at record high against US Dollar June 8, 2008
Posted by mylastresort in analysis.Tags: Dollar, High, KD, Kuwaiti Dinar, KWD, Record, US
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The Kuwaiti Dinar reaches a record high against US Dollar to .26480 fils per US Dollar (or $3.7764 per KD).
Kuwaiti Dinar at record strength against US Dollar May 25, 2008
Posted by mylastresort in analysis.Tags: Central Bank of Kuwait, Currencies, currency, forex, kuwait, Kuwaiti Dinar, KWD, Record, US Dollar, USD
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The Kuwaiti Dinar (KWD) has reached record strength against the US Dollar (USD) reaching .26490 fils per US $1.00 on Sunday.
Euro is finally back down May 8, 2008
Posted by mylastresort in analysis.Tags: ECB, EURO, European Central Bank, fils, KD, Kengo Suzuki, Kuwaiti Dinar, KWD, Record, Shinko Securities
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Following a record high in the Euro 2 weeks ago, the currency is back down to a 2 month low. The European Central Bank (ECB) is expected to keep interest rates steady at 4% in a meeting later today.
“The euro may test lower below $1.52 over the next week as markets seek adjustments after the recent dollar selling and euro buying… The focus today is on the ECB. If Trichet makes hawkish comments as usual, the euro will be bought back at once.”
- Kengo Suzuki, Shinko Securities
The Euro/Kuwaiti Dinar rate today is 1 Euro for .410 fils
Gulf currencies collapse 40% April 8, 2008
Posted by mylastresort in analysis, bahrain, qatar, rumors, saudi arabia.Tags: AED, bahrain, BHD, Central Banks, Currencies, Dirham, Dollar, Dubai, gcc, Gulf, kuwait, KWD, oman, OMR, qatar, Revaluation, saudi arabia, Saudi Riyal, US
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Many have called for a revaluation of Gulf currencies from the historical dollar peg. The flood of liquidity and rapid inflation has been hailed as a warning to the falling interest rates, decline of the US Dollar, and record high oil. The loss in value of the Gulf currencies has been partially responsible in the rise of inflation. The inflationary pressures, which should govern an increase in rates by the central banks, have created markets so liquid that deposits are being quoted at negative rates. The list below shows the Gulf currencies depreciation, in value, due to the Dollars decline.
Fixing the Kuwaiti Dinar to the Dollar, again… April 8, 2008
Posted by mylastresort in analysis, saudi arabia.Tags: Again, Dinar, Dollar, Fix, gcc, kuwait, KWD, Peg, Single currency, Unified Currency, Union, USD
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In order to remain on track for the single Gulf currency, Kuwait, which revalued its currency in May 2007, must fix its currency back to the Dollar, to be inline with the rest of the Gulf countries. The formation of the single currency, (rumored to be called the ‘Dinar’), cannot be created without the valuable Kuwaiti economy. Kuwait, is considered to have the most advanced, and stable, economy in the Gulf. Since all the countries are fixed to the Dollar, once Kuwait decides to re-enter it will be forced to peg again, which will not be to beneficial to the local economy.
Kuwaiti Dinar rises to strongest point March 27, 2008
Posted by mylastresort in analysis.Tags: CBK, Central Bank of Kuwait, Dinar, kuwait, Kuwaiti, KWD, Record, Revaluation, Rise, US Dollar, USD
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Kuwaiti Dinar rises to to its strongest point since dropping the peg.
- Todays mid point .26530 (3.7693)
- Change (from previous day) 0.41%
- Change since May 19, 2007 8.99%
The recent rise in the Kuwaiti Dinar is due to the dollars decline overnight to reach near record lows against the majors.
Mandatory Qatarization in one year March 24, 2008
Posted by mylastresort in analysis, qatar.Tags: Citizenship, Civil Service Minister, economy, Employment, Government mandate, inflation, Jobs, kuwait, Kuwaiti, Kuwaitisation, KWD, Nationalization, Private sector, QAR, Qatari, Qatari Riyal, Qatarization, Rates, Riyal, Sultan Hassan al-Dosari, Work, Workforce
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Qatar has just announced a plan to private and public sector firms with a directive to nationalise 20% of their workforce within a year. This plan comes into effect following Kuwaits mandate of “Kuwaitisation” where 40% of the workforce has already been to citizens. The succesful campaign which ran in Kuwait in the recent years also provided citizens with a government salary in addition to the one recieved by the private companies. The combined salaries lowered the costs to the private companies and improved the efficiency of the workplace. The Qatari plan is for 20% of the workforce to be of Qatari citizenship by March 31, 2009.
“It is our responsibility to provide jobs to unemployed compatriots… There is frustration among the Qatari youth… We are encouraging fellow citizens to take up jobs in the private sector”
- Sultan Hassan al-Dosari, Civil Service Minister
Qatar facts:
- 3rd biggest natural gas reserves in the world
- Population of 1.5 million (less than 1/3 nationals)
- Relies heavily on foriegn labor
- Record high inflation rates
- Recently lowered rates
- Rumors of revaluation of Qatari riyal or [2]
Kuwaiti Dinar at record high March 17, 2008
Posted by mylastresort in analysis, bahrain, qatar, saudi arabia.Tags: bahrain, Banks, BHD, Central Bank, Crisis, Depegging, Dinar, Dinar Peg, Dirham, economy, inflation, kuwait, KWD, oman, QAR, qatar, Record, Revaluation, Riyal, SAR, saudi arabia, Trading, United Arab Emirates, USD
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The Kuwaiti Dinar is at a record high against the Dollar. Kuwait let its Dinar sharply rise for the third trading session to a record high of .26600 fils (or $3.7594). The US Dollar plunged accross the board Monday on concerns that the financial crisis in the US will continue to deepen.
The Kuwaiti Dinar has gained 2% since Wednesday
The cumulative gain on the currency is now at 8.70% (expected to hit 15%). The forces on Gulf Arab states to revalue their currencies and drop their Dollar pegs is even more higher. The pressure on Saudi Arabia, United Arab Emirates, Qatar & Bahrain is even greater as the US Dollar reaches record lows and their own economies surging on record level oil prices fuelling sharp inflation.
