Friday 29 March 2024
 
»
 
»
Story

Saudi cbank chief vows to keep currency peg

RIYADH, March 14, 2016

Saudi Arabian Monetary Agency (SAMA) Governor Fahad al-Mubarak said he was committed to maintaining monetary policy to keep the kingdom's decades-long currency peg of SR3.75 per dollar in comments published on the central bank website on Monday.

Currency speculators have put pressure on the riyal in recent months because of the impact of lower oil prices on Saudi Arabia's fiscal balance, causing a projected large deficit this year. – Reuters


 




Tags: Central Bank | Saudi | dollar peg | Riyal |

More Finance & Capital Market Stories

calendarCalendar of Events

Ads