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Riyal at 21 year high
- Saudi Arabia: Saturday, September 22 - 2007 at 07:08
Saudi Arabia's riyal hit a 21 year high against the US dollar on Thursday, as speculation it might ditch its peg to the greenback led to heavy buying, reported Reuters. A total of 3.74 riyals to the dollar was the highest level since December 1986 according to Reuters data. Analysts say if the 3.74 mark is breached then the kingdom's central bank will have allowed a revaluation of the riyal.
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Jonathan Sheikh-Miller, Deputy EditorSaturday, September 22 - 2007 at 07:08 UAE local time (GMT+4)
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