The Saudi riyal fell sharply against the US dollar in the forwards market on Monday because of the conflict in Iraq, bankers and traders in Dubai said.
One-year dollar/Saudi riyal forwards jumped as high as 50.50 points, their hig
Saudi Arabia's one-year currency forwards fell to a one-month low on Monday, indicating bets the riyal will strengthen against the dollar, after the king announced new social handouts and as unrest in Bahrain calmed.
Saudi currency forward
Qatar issued 10 billion riyals ($2.75 billion) in conventional and Islamic bonds with a 6.5 percent coupon to local banks on Tuesday, the Gulf's first domestic sovereign offering this year, a central bank source told Reuters.
Qatar will launch a 10 billion riyal ($2.75 billion), eight-year bond for local banks on Tuesday, a person familiar with the matter said on Monday.
The issue, Qatar's first local currency-denominated bond, is aimed a
Qatar's riyal currency will stay pegged to the dollar for the time being, but all possibilities will be considered for the planned Gulf monetary union, Central Bank deputy governor Sheikh Fahad bin Faisal Al-Thani said on Thursday.
A Saudi council that advises the king is likely to accept a recommendation to revalue the dollar-pegged riyal as a measure to fight inflation, although any decision rests with the monarch, one of the members said.
An internal committee of
Qatar's dollar-pegged riyal is undervalued by as much as 30 percent and currency revaluation is being studied, among several options, to check inflation, Prime Minister Sheikh Hamad bin Jassim bin Jabr al-Thani said in an interview.
The Qatari riyal fell on Sunday after hitting its highest in more than seven weeks on Friday when a report cited the country's prime minister as saying a change in the currency regime was "under discussion".
The riyal, which is pegged to t
Saudi Arabia's finance minister warned investors against the betting on an appreciation of the dollar-pegged riyal.
He said in a television interview that the kingdom had no plans to change currency policy.
There was no disagreemen
Bahrain may choose to fix its dinar to the Saudi Arabian currency if other Gulf countries decide to abandon dollar pegs, a report said.
Oman could keep its rial pegged to the tumbling US dollar, Citigroup was quoted as saying by Gulf Daily