US dollar drops to KD 0.302 against Kuwaiti dinar

(MENAFN- Kuwait News Agency (KUNA)) The exchange rate of the US dollar against the Kuwaiti dinar has dropped to KD 0.302 while the euro rose to KD 0.331 on Wednesday, compared to Tuesday's rates.

According to the Central Bank of Kuwait's daily bulleting, the sterling dropped to KD 0.471, the Swiss franc rose to KD 0.315 and the Japanese yen was unchanged at KD 0.002.

The US Federal Reserve announced that there is a possibility of 50 percent to raise the profit rate in September, noting that the crisis in Greece would not affect the US economy.

Meanwhile, European stocks were unstable as the season of the EU companies' net profits announcement had arrived, however, the drop in stocks was mild as Greece was able to pay its debts to the International Monetary Fund (IMF) and the European Central Bank (ECB) yesterday, with a total of 6.25 euros.(end)