Central Bank of Saudi Arabia

UPDATE 2: Central bank governors say enough provision taken by local banks.

Circular issued to banks not to open any new facilities to named firms until further notice.

Bank governor says kingdom is tapping its reserves to keep the economy going. 

Governor Hamad Saud Al-Sayyari says banks are 'highly liquid', investments 'very safe'.

SAMA agrees first injection of dollars into kingdom's banking system for a decade.

Saudi Arabia, UAE rates increase ahead of a possible final US bailout agreement.

Saudi central bank governor says Gulf planning new deadline for single currency.

Money circulating in Saudi Arabian economy jumps 21% in May, central bank data reveals.

Central bank official says conservative policies shielded lenders from effects of mortgage meltdown.

Record oil prices placing more pressure on Gulf states to revalue currencies - analysts.

Inflation accelerated to 27-year high of 10.5% in April, fuelled by rents and food prices.

Inflation in kingdom hits 9.6% in March on rent and food costs, highest level since oil boom of 1970s.

Inflation could hit double-digits after money supply rose 26% in February - analyst.

Annual inflation in February accelerates to 8.7% as rents and food costs surge, official data shows.

Investors bet on central banks revaluing currencies against dollar.

Central bank will not cut repurchase rate in response to further cuts by US, official says.

Business and political leaders queuing up to talk to sovereign wealth investors to tap cash-rich funds.

Kuwait cuts benchmark interest rate for first time in 18 months, Saudi, Bahrain and UAE also lower rates.

Qatar tightens lending curbs while matching Fed cut along UAE, Saudi and Bahrain.

The question is not if to depeg or revalue, but when and how. And the answers are to a basket of currencies - and now.

Costs of altering the peg greatly outweigh the benefits, says Jadwa Investment chief economist.

Move follows US cut in interest rates, sending dollar to new lows and piling pressure on expat salaries.

States could switch together to currency basket to buy time for troubled monetary union project.

Central bank quashes speculation it might strengthen currency after it rose to 21-year high against dollar.

Frenzied speculators buying up Saudi riyals as currency strains at upper limit of dollar peg.

Analysts say collapse of dollar peg is inevitable as Saudi holds back from matching US interest rate cut.

Supply of money in the kingdom reached $193.5bn last month, growing at its fastest rate this year.

Premiums paid to Saudi insurers rise to $1.84bn after motor and health insurance is made compulsory.

Kingdom's banks fear that they will lose high value customers if they do not offer Internet banking services.