Saudi central bank governor vows to keep currency peg
Currency speculators have put pressure on the riyal in recent months because of the impact of lower oil prices on Saudi Arabia's fiscal balance
Saudi Arabian Monetary Agency (SAMA) Governor Fahad al-Mubarak said he was committed to maintaining monetary policy to keep the kingdom's decades-long currency peg of 3.75 riyals per dollar in comments published on the central bank website on Monday.
Currency speculators have put pressure on the riyal in recent months because of the impact of lower oil prices on Saudi Arabia's fiscal balance, causing a projected large deficit this year.
Saudi c.bank official predicts 2 percent GDP growthSaudi Arabia’s economic growth is likely to be around 2 percent in 2016, a central bank official said on Thursday Economy
Saudi Arabia issues $4-billion bond, Central Bank governor saysThe bonds will help pay for a budget deficit now forecast to exceed the 145 billion riyals previously expected Economy
Saudi central bank May net foreign reserves drop to $672 blnAssets dropped by 8.1 percent from a year earlier to their lowest level since April 2013, central bank data showed on Tuesday Economy