The US dollar is a "good buy", and excessive dollar volatility is undesirable, Saudi Arabia's central bank governor said

Asked after a meeting with European Central Bank officials about market talk the Saudi central bank had been in the market buying dollars, Hamad al-Sayyari said rumours should not be listened to but added: "I said it is undervalued, but the market determines the value of the US dollar." 

He also said inflation will start to fall in Saudi Arabia in the second half of the year as government measures begin to have an impact.

Al-Sayyari was speaking in Germany after a meeting with European Central Bank officials. - Reuters