A leading Saudi financial analyst said the Kingdom should revalue the Saudi riyal rather than de-pegging it from the US dollar, reported Gulf News. Dr. Abdul Wahab Abu Dahesh said the exchange rate should be returned to the value of 1986 when the riyal was 3.65 against the dollar. He noted that the US dollar exchange rate indicates the weakness of the US economy, not the Kingdom's.

[AMEInfo.com]



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Posted: 10|18|07 at 9:41 am. Filed under: News.