Riyal Revalue
Published by Human Head on Tuesday, September 25, 2007 at 12:21 AM.
FT.com / Markets / Emerging markets - Speculation of Saudis’ revaluing riyal increase
Might? There's no "might" about it. The only question is "when".
The Saudi Arabian Monetary Agency’s decision to keep interest rates on hold after the Federal Reserve cut rates last week has sparked speculation that the kingdom might revalue the riyal for the first time in 21 years. There has even been talk that the Saudis might abandon the riyal’s peg to the dollar, which has stood at SR3.75 since December 1986.
Might? There's no "might" about it. The only question is "when".
