USdollar unchanged against Kuwaiti dinar at 0.285

Exchange rate of the US dollar stood unchanged at KD 0.285 while the euro also stood unchanged at KD 0.369, said the Central Bank of Kuwait (CBK) on Monday. The exchange rate of the sterling stood at KD 0.432, while the Japanese yen remained unchanged at KD 0.003, and the Swiss franc dropped, reaching KD 0.296. Recent statements by Chairman of the Federal Reserve Ben Bernanke led to the rise of the dollar against all major currencies. Reference to the possibility of the bank reconsidering its monthly bond purchases during the coming meetings to allow for more US economic growth were particularly influencing the market. Meanwhile in Europe, the German industry sectors rose sharply in May, which reinforces Europe's hopes of shaking off recession and bolstering the euro. The Bank of England meanwhile is keeping its quantitative easing program at 375 million pounds for this month.