USD stable against KD at 0.281

Exchange rate of the US dollar against the Kuwaiti dinar remained stable at KD 0.281, so as did the euro with KD 0.375 compared to Monday's figures, said the Central Bank of Kuwait (CBK) on Tuesday. The exchange rate of the sterling also remained the same at KD 0.452. The Japanese yen remained unchanged at KD 0.003 and the Swiss franc went down to KD 0.304. The development in currency exchange rates comes amid a state of anticipation over the negotiations in the United States over the so called 'fiscal cliff" after extending the xxpansionary monetary policy for a period of two months before the end of 2012. The challenge of European sovereign debt crisis is still being the biggest dilemma the global economy is recovering from, especially as new data of economic growth in some European countries are below expectations. The new Japanese government is approaching a period of huge expansionary monetary policy, in order to decrease the yen exchange rate as a way to enhance the exports of the third largest economy in the world.