Saudi central bank chief says currency position is ‘very reassuring’

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RIYADH (Reuters) – The position of Saudi Arabia’s currency, the riyal, is “very reassuring”, the country’s central bank chief said on Wednesday, warning the central bank will not allow currency speculation.

“Riyal is a red line, we will not allow any speculation on the riyal,” Saudi Arabian Monetary Authority (SAMA) Governor Ahmed al-Kholifey told a news conference.

He reiterated SAMA has no intention to change the country’s exchange rate policy. The central bank maintains a peg of 3.75 riyals to the dollar.

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