A sharp fall of the Saudi riyal after the decision of Congress
A sharp fall of the Saudi riyal after the decision of Congress
09/29/2016
Fell Saudi riyal against the dollar on Thursday after the vote the US Congress in favor of allowing the relatives of the victims of September / September 11 attacks to sue Saudi Arabia.
The voice of the Senate and House of Representatives voted overwhelmingly Wednesday to reject the use of President Barack Obama ‘s veto against legislation to allow lifting of such lawsuits.
It provides legislation exception the legal basis of sovereign immunity in fact cases of terrorism on American land, clearing the way for attempts to obtain compensation from the Saudi government. the
dollar contracts and recorded in front of the riyal for the year and is scheduled trading for implementation after 12 months from now at a level of 550 points in early trading , up from a close Wednesday at 330 points.
Saudi riyal pegged to the US currency at 3.75 riyals to the dollar in the spot market and then the banks resort to the futures market to hedge risks.
rose insurance Saudi Arabia ‘s cost of debt for five years from the deficit risks for repayment slightly to 157 points from 152.
did little effect on the price of dollar – denominated instruments issued by the Saudi Electricity Company’s state – owned change in one of the small number of versions of existing international bonds Kingdom
burathanews.com
