The Saudi Arabian central bank has warned commercial banks against betting on depreciation of the riyal as tumbling oil prices put pressure on the Saudi currency, several bankers operating in the market said.
The riyal, pegged in
Saudi Arabia's central bank governor said on Monday recent volatility on its currency in the forwards market is due to speculation based on unrealistic expectations.
The Saudi riyal hit a record low on January 7, amid renewed
Pope Francis criticised the wealth made from financial speculation on Monday as "intolerable" and said speculation on commodities was a "scandal" that compromised the poor's access to food.
Since his electi
G20 members were on the verge of signing an agreement on Thursday over measures to curb volatility in staple food prices after late-night talks yielded progress in the first-ever farm meeting of the Group of 20 major economies.
Kuwait signalled it had quashed speculation about a rise in the dinar on Tuesday, by reversing its first currency depreciations in at least four years and easing pressure on lending rates among banks.
The oil exporter's central bank allowe