Saudi Arabia Faces Another “Very Scary Moment” As Economy, FX Regime Face Crude Reality

Sunday, August 23, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
08/23/2015

Over the weeks, months, and years ahead we’ll begin to understand more about the fallout from the death of the petrodollar and nowhere is it likely to be more apparent than in Saudi Arabia where widening fiscal and current account deficits have forced the Saudis to tap the bond market to mitigate the FX drawdown that’s fueling speculation about the viability of the dollar peg. As Bloomberg reports, the current situation mirrors a “very scary moment” in Saudi Arabia’s history.

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