Saudi Authorities Panic – Ban Speculation On Riyal Devaluation Amid Banking Crisis
by Tyler Durden
ZeroHedge.com
Jun 4, 2016
With Saudi Riyal forwards plunging back above 3.81, dramatically weaker than the current peg, Bloomberg reports that Saudi authorities are cracking down on currency traders as speculation mounts that the world’s biggest oil exporter won’t be able to maintain the riyal’s peg to the dollar as revenue plunges. The Saudis face two very tough choices…
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