US dollar down to Kuwaiti dinar 0.283

The exchange rate of the US greenback dropped to KD 0.283 per dollar on Monday, while the euro stayed unchanged at KD 0.378, said the daily exchange rate bulletin of the Central Bank of Kuwait. The bulletin said that the pound sterling came up to KD 0.439, and the Swiss franc also gained to KD 0.307, while the Japanese yen stayed at its long-held notch of KD 0.003. The market is seeing increased risk-taking amid instability in US economic data and lack of certainty regarding the US Federal Reserve's stimulus policies. Amid improvement in Chinese economic performance, investors are seeking high-yield currencies. Investors are also awaiting initial readings of the Japanese GDP data, reflecting the condition of the world's third economy, with forecasts of growth of 0.9 percent compared to Q1's 1 percent. The Bank of Japan had earlier decided to keep matters unchanged regarding stimulus measures, as the economy still shows acceptable growth at present. The bank is still committed to a plan to broaden its base from 60 to 70 trillion yen to reach inflation rate of 2 percent