Saudi Arabia's riyal hit a 21 year high against the US dollar on Thursday, as speculation it might ditch its peg to the greenback led to heavy buying, reported Reuters. A total of 3.74 riyals to the dollar was the highest level since December 1986 according to Reuters data. Analysts say if the 3.74 mark is breached then the kingdom's central bank will have allowed a revaluation of the riyal. [AMEInfo.com]



Related Articles

Riyal rises to 21-year high

Saudi urged to revalue riyal

Riyad Bank plans to sell shares

Kuwait inflation near 12-year high

US 10-year Treasury auction attracts decent demand

Posted: 09|22|07 at 4:08 am. Filed under: News.