The Traderszone Network

Published in TZ Latest News 26 November, 2015 by The TZ Newswire Staff

Bad Saudi PR fuels riyal devaluation talk

Speculation that Saudi Arabia could devalue its currency may owe more to a poor public relations effort by Saudi authorities than to the economic pressures on the kingdom. Riyadh has the tools available to protect itself as low oil prices push the current account and budget balances of the world’s top crude exporter deep into deficit, senior bankers in Saudi Arabia and the Gulf said.

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