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QNBK 133.5 479,319
YAMAMAHSTEEL 40.4 8,857,095
SABIC 82 4,472,173
MAADEN 38.3 1,692,385
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BRES 30.3 576,799
TAWUNIYA 85.25 28,380

Forex News

Saudi riyal hits record low, breaches 1000-level

The Saudi Arabian riyal hit a record low in the forwards market on Tuesday, breaching the key 1000-point mark as a fresh slip in oil prices raised fears that the kingdom will eventually scrap or loosen its currency peg to the US dollar. One-year

Safe havens in play as oil falls, China seeks stable yuan

Major currency markets flattened out on Tuesday after a rebound for shares and other riskier assets from the latest round of shocks due to falling oil prices and worries over China. Of the big four developed world currencies, sterling was the standout,

Saudi riyal volatility due to 'unrealistic expectations'

Saudi Arabia's central bank governor said on Monday recent volatility on its currency in the forwards market is due to speculation based on unrealistic expectations. The Saudi riyal hit a record low on January 7, amid renewed speculation that the kingdom

Riyal-dollar peg to stay: SAMA

Saudi Arabian Monetary Agency (SAMA) Gove Fahd Al-Mubarak reiterated the agency’s official position that it will uphold its mandate of maintaining the peg at SR3.7500 per US dollar. SAMA’s position is backed up by a full range of monetary policy

Dollar’s fate hangs on whether jobs gains outweigh China for Fed

For dollar bulls, policymakers in China navigating currency and stock market turmoil may compete with US economic performance for attention from the Federal Reserve. The greenback fell versus traditional haven currencies, posting its worst weekly loss

ADXY Below 1998 Trendline Points to More Downside Risk: Analysis

The Asia Dollar Index’s first ever monthly close below an 18-year trendline is pointing to more medium-term weakness, as a falling yuan weighs on emerging markets amid rising U.S. rates, Bloomberg strategist Tanvir Sandhu writes. The ADXY index, which

Zimbabwe switches to Yuan for reserve currency

Zimbabwe Minister of Finance and Economic Development Patrick Chinamasa said that the decision is a sign of friendship between the two countries. "There cannot be a better time to do this," Chinamasa said in a statement. Zimbabwe’s own currency collapsed

Lankan rupee rises on bank dollar sales

The Sri Lankan rupee edged up on Wednesday as dollar sales by a private bank offset demand for the greenback from importers, dealers said. The rupee gained 0.24 percent to close at 143.90/144.00, rising from Tuesday’s close of 144.25/45. “The rupee rose

Pound to Dollar Forecast @ 1.22 in 2016

Of all the institutional researchers we follow, Sweden’s Handelsbanken is now the most pessimistic in their projections for the British pound against the dollar in 2016. Handelsbanken are forecasting an exchange rate of 1.22 to be achieved by the end of

Yen rises to 3-month high vs dollar, 9-month high vs euro

The yen vaulted to a near three-month high against the dollar and multi-month highs versus other currencies on Wednesday as investors sought shelter in low-risk assets after weak economic news from China and a possible nuclear test in North Korea. The

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