Bahrain central bank remains committed to dollar peg

0
153

Bahrain is committed to keeping its dinar currency’s peg to the US dollar, a senior official at the Kingdom’s central bank said on Monday.
“The peg will remain,” Ebtisam Al-Arrayed, head of regulatory policy at the central bank, told Reuters on the sidelines of a conference.
The dinar, pegged at 0.376 to the dollar, has come under pressure in the foreign exchange forward market as low oil prices damage Bahraini state finances.
One-year dollar/dinar forwards hit a high of 600 points on Monday, their highest level since at least the year 2000, according to Thomson Reuters data.

LEAVE A REPLY

Please enter your comment!
Please enter your name here