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Mon 25 Jan 2016 02:00 PM

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Bahrain central bank says remains committed to dollar peg

The dinar has come under pressure in the foreign exchange forwards market as low oil prices damage Bahraini state finances

Bahrain central bank says remains committed to dollar peg

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 forwards 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.

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