Qatar 'won't depeg against the dollar'

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Qatar Central Bank has reiterated the Gulf state will not depeg the riyal against the US dollar.

The currency will remain valued at QR3.64 per US dollar, the bank said in a statement published in The Peninsula Qatar.

Local banks and currency exchange houses must use the set rate with a margin of 0.24 percent.

“The riyal’s peg to the dollar is the cornerstone of the country’s monetary policy,” the banking regulator said.

The UAE, Saudi Arabia, Oman and Bahrain also peg their currencies to the dollar.

 

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: wisedom

actually many countries in the world not only the gcc

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Finance talk with RAKBANK

Finance talk with RAKBANK

StartUp sat down with RAKBANK’s head of personal banking, Ian...

Tips from the top: Hisham Al Gurg

Tips from the top: Hisham Al Gurg

High profile investor and entrepreneur Hisham Al Gurg discusses...

1
The hubsters' ecosystem

The hubsters' ecosystem

Tamara Pupic visits Impact Hub Dubai, the first local branch...

Most Discussed