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Saudi riyal keeps dollar peg
- Saudi Arabia: Sunday, October 28 - 2007 at 06:40
The Saudi riyal will remain pegged to the US dollar as GCC countries agreed to continue with the present exchange rate policy, according to the Saudi Arabian Monetary Agency (SAMA), and cited by Arab News. The statement ended speculation about that the riyal-dollar peg would be lifted due to growing inflation in KSA.
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Medilyn Manibo, Assistant News EditorSunday, October 28 - 2007 at 06:40 UAE local time (GMT+4)
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