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SocGen sees 25pc chance of Saudi FX devaluationThere is at least a 25 per cent chance of a near-term devaluation of the Saudi Arabian riyal, rising to 40 per cent should oil prices stay at current levels throughout 2016, Societe Generale said on Thursday. The Saudi riyal's More… |
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Saudi riyal hits record low, breaches 1000-levelThe Saudi Arabian riyal hit a record low in the forwards market on Tuesday, breaching the key 1000-point mark as a fresh slip in oil prices raised fears that the kingdom will eventually scrap or loosen its currency peg to the US dollar. More… |
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Saudi riyal hits record low vs dollar in forwards marketThe Saudi Arabian riyal fell to a record low against the dollar in the one-year forwards market on Thursday in response to a fresh slide in oil prices. One-year dollar/riyal forwards climbed as high as 880 points in very volatile More… |
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Dollar/Saudi riyal forwards jumpThe Saudi riyal fell sharply against the US dollar in the forward foreign exchange market early on Monday after relations between Saudi Arabia and Iran deteriorated, raising concern that dollar funding for the kingdom could become more expensive More… |
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Oil at $30 ‘could drain Saudi FX at $18bn a month’The foreign exchange (FX) reserve drain on Saudi Arabia could accelerate to $18 billion per month if Brent crude oil prices average $30 per barrel, adding pressure on the kingdom’s currency, a report said. Saudi Arabia has b More… |
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Oil at $30 ‘could drain Saudi FX at $18bn a month’The foreign exchange (FX) reserve drain on Saudi Arabia could accelerate to $18 billion per month if Brent crude oil prices average $30 per barrel, adding pressure on the kingdom’s currency, a report said. Saudi Arabia has b More… |
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Abu Dhabi officials foil bid to smuggle SR13mCustoms officials in Abu Dhabi have foiled an African man’s attempt to smuggle more than 13 million Saudi Riyals (SR) through the UAE’s land port. An official source at the Abu Dhabi More… |
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Saudi 'could gradually appreciate riyal'Saudi Arabia could gradually appreciate its riyal in the event the dollar slides further against major currencies, says a report. Riyadh-based Jadwa Investment said the kingdom is unlikely to drop its peg. "Should the dollar contin More… |
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Saudi riyal at 21-year high on revaluation talkThe Saudi riyal rose to a fresh 21-year high against the dollar on Tuesday on continued speculation that Riyadh will soon revalue its currency. The Saudi central bank told Reuters last week it will not follow the US Federal Reserve's deci More… |
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Saudi riyal surges to 21-yr high vs dollarSaudi Arabia's riyal surged to a 21-year high against the dollar on Thursday as speculation the kingdom may ditch the currency's peg to the dollar fuelled a frenzy of riyal buying. This pushed the riyal to its highest level since December More… |
