World Economy

Saudi Committed to USD Peg

Saudi Committed to USD PegSaudi Committed to USD Peg

Saudi Arabia is committed to keeping the riyal pegged to the US dollar and that it has “sufficient tools” to support its fixed exchange rate policy, said Ahmed Al-Kholifey, governor of Saudi Arabian Monetary Agency, Arabian Business reported. “The governor said the organization reiterates its ongoing commitment to the riyal’s exchange rate policy, currently at 3.75 against the US dollar,” SAMA said in a statement. The statement also said that the fixed exchange rate policy has been followed for more than three decades and is an important policy supporting the kingdom’s economy.