US dollar exchange rate stabilizes at KD 0.279

Exchange rate of the US dollar against the Kuwaiti dinar was stable at KD 0.279 and the euro also remained the same at KD 0.355 compared to the Wednesday rates, said the daily bulletin of the Central Bank of Kuwait (CBK) on Thursday. The sterling pound dropped to KD 0.427. The Japanese yen was unchanged at KD 0.003 and the swiss franc exchange at KD 0.293. The euro reached its lowest point since September of 2011 due to increase of fears that the European sovereign debts would greatly affect European and world economies. The greenback\'s gain, however, was because of fears and doubts in investors who prefer to seek the US dollar and the yen as an economic haven against the instability of the euro.