US dollar exchange rate settles at KD 0.277

Exchange rate of the US dollar against the Kuwaiti dinar stayed unchanged at KD 0.277 while the euro dropped to KD 0.362 compared to Tuesday's rates, said the daily bulletin of the Central Bank of Kuwait (CBK) on Wednesday. The Sterling pound went up KD 0.437. The Japanese yen was unchanged at KD 0. 003, while the Swiss franc slipped to KD 0.301. Greece promised to take all necessary measures to prevent any relapse in its economy after receiving a second EU rescue package. Greece needs about euro 130 billion to make drastic structural reform in the country. It is expected that Europe and the US are going to slip into recession this year despite slight world economic recovery.