Emerging Markets Rates and Currencies Handbook

FX Spot FX Forwards NDFs FX Options Interest Rate Swap Interest Rate Options XCCY swaps Market Overview Availability of the instrument Volume (MM USD Daily) Max Tenor (Or Typical Tenor For Spot) Typical Deal Size (MM USD)  100 - 200 T+2 25  100 - 150 2 years 25 ✗ N/A N/A N/A ✗ N/A N/A N/A ✗ N/A N/A N/A ✗ N/A N/A N/A  5 - 10 2 years 5 - 10 CitiFX Pulse Capabilities   ✗ ✗ ✗ ✗ ✗ Source: Citi indicative information Market opening hours and liquidity during the day Fixing Central bank publishes USDKWD rate every day at 8.00am. Regulation Offshore Restrictions: No exchange controls, offshore entities are permitted to transact with onshore. Onshore entities (e.g. resident corporate) are permitted to transact FX with an offshore entity (e.g. offshore bank). Non-Resident Restrictions: No specific restrictions for non-residents, same restriction as for resident account. Non-resident (e.g. non-resident corporate) are permitted to transact FX with an onshore entity (e.g. onshore bank) but this is subject to having an account opened with a local branch. License Requirements Not required. Requirements to open a foreign currency account There is no difference as opening an local currency account. No restrictions. Deal Management Rollover: N/A. Unwinding: N/A. Early Maturity: N/A. Documentation Requirements Confirmation/settlement instructions are needed for FX Spot dealing. Trade Flows No documentation required for FX, to be entitled to cover USD/KWD from central bank it has to be for closing client commercial needs. Capital Flow and FDI No documentation required for FX, to be entitled to cover USD/KWD from central bank it has to be for closing client commercial needs. Citibank N.A. Kuwait Ahmed Tower, Arabian Gulf St. Sharq, Kuwait FX Sales Contact: +965 2259 4073