Loading ...News
Dollar peg beneficial, says Saudi
Saudi Arabia has confirmed that it will continue…
.....................................................................
Related articles:
-
Super-sized spending in Saudi
Most families in Saudi are spending much more than they ... -
Saudi women’s war to work
Women in KSA are again campaigning to ban men from ...
Related news:
-
Saudis deny pressuring China over Iran sanctions
Reports that Riyadh will use influence in Beijing to support ... -
Saudi inflation rose to 4.6 percent in February
The Kingdom witnessed an inflation rate of 4.1 percent in ...
Nov 18th, 2009
Saudi Arabia has confirmed that it will continue to peg its currency to the US dollar as long as the dollar remains the main global reserve currency. “The US dollar is still the main reserve currency globally. Pegging the Saudi riyal to it benefits the kingdom until a major rival (currency) appears,” Muhammad al-Jasser, the kingdom’s central bank governor told Saudi-based Arabic daily, Alrroya Aleqtossadiya.
The dollar has fallen to a 15-month low against a basket of six major currencies this week, according to Reuters.
Previous Story Next Story
