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Saudi interest rates frozen on inflation drop

Riyadh, November 2, 2009

The Saudi central bank on Monday said a drop in inflation has prompted it to keep interest rates and reserve requirements unchanged during the third quarter.

The Saudi Arabian Monetary Agency (Sama) also said it has not conducted any foreign exchange swap deals with local banks because of 'the availability of ample US dollar liquidity with local banks', according to a statement.-Reuters




Tags: Central Bank | inflation | Saudi Arabian Monetary Agency | Interest rates |

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