Browse related articlesSaudi debate dollar peg
Saudi Arabia: Monday, January 28 - 2008 at 08:56
Saudi Arabia's finance minister and central bank governor will appear before a council to discuss the riyal's peg to the US dollar and a surge in inflation, a council member said, reported Gulf Daily News. Inflation in Saudi, which pegs its riyal to the dollar, rose to a 16-year high of 6.5 per cent in December, partly driven by a rise in global commodity prices and the declining US currency. The Shura Council, whose members are appointed by King Abdullah, will meet Finance Minister Ibrahim Al Assaf and Saudi Arabian Monetary Agency governor Hamad Saud Al Sayyari on February 10, to further discuss the issue.
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Amena Bakr, Senior ReporterMonday, January 28 - 2008 at 08:56 UAE local time (GMT+4)
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