Saudi Arabia not to review money peg

Click here: Gulfnews.com –  Saudi Arabia not to review money peg

Saudi Arabia is not considering or revaluing its currency or moving away from its dollar peg, Finance Minister Ebrahim Al Assaf said here yesterday.Amid speculation that the Kingdom will abandon its currency peg due the dollar’s steep fall, the Saudi minister told Washington-based Emerging Market magazine. “The riyal’s exchange regime has served, and continues to serve, the economy so well and there is no need for any change at this time.”

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: