Treasury Department Manager at Kuwait Finance House (KFH) Abdul Wahab Al-Roshoud said that the performance of currencies' markets fluctuates, despite slight improvement in global economy. However, the predictions of analysts are optimistic that markets will improve; especially that the developments in general are better than the past years. He stressed that despite a drop in returns of Kuwaiti dinar compared to other currencies, they remain competitive and the Kuwaiti dinar remains strong.
Al-Roshoud pointed to some problems in the Euro zone, such as in Cyprus, Italy and Spain, where unemployment rose to 25%. He added that supporting the economies of those countries is a direct and indirect burden to the German and French economies; thus affecting the whole Euro zone. He went on to say that positive governmental steps are expected to boost the economy through offering developmental projects, especially infrastructure projects. He asserted that the government shows its keenness to seize best investment opportunities.
Regarding the US dollar, Al-Roshoud expalined that it still has a positive outlook from most economists, and high returns have been granted on deposits in US dollars at KFH.
Moreover, Al-Roshoud mentioned that KFH had granted 0.8% for the three-year deposit in Kuwaiti dinar, which is considered to be a competitive return on the market level, as well as returns on other currencies.