Amid Bets Against Currency Peg, Saudi Regulators Want Answers On Unregulated DerivativesMark Melin
As Saudi Arabia engages in historic economic adjustment in the face of dwindling revenues and running a budget deficit, the nation’s financial regulator is reported to be investigating speculators betting that its currency peg with the U.S. dollar will falter. Bank trading in unregulated derivatives in a fashion not reported to regulators, more common in the U.S., is drawing the interest of Saudi regulators.
Saudi regulators asking regional banks questions
The Saudi Arabia Monetary Agency is questioning regional banks about the increasingly volatile dollar-riyal forward structured derivatives contracts, exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here
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