al-Qabas: Kuwait confirms linkis of Dinar to US dollar

The Kuwaiti Central bank has announced that Kuwait will limit linking its national currency ( the Dinar) to the US dollar as from next Wednesday in preparation for the monetary unity among the member states at the Arab Gulf Cooperation Council GCC, however, this steps will not cause great changes in the change rate.

The Kuwaiti daily al-Qabas yesterday quoted the governor of the Kuwaiti central bank Sheikh Salem Abdul Aziz al-Saud al-Sabah that this transfer in linking the Dinar will be made smoothly.

At the meantime, the Kuwaiti Dinar is linked to a basket of currencies, the US dollar enjoyed the largest weight in this basket, but this sebasketries also contains the united European currency ( EURO) and the Japanese Yen.