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Bahrain central bank remains committed to dollar peg
(MENAFN- Arab News) ABU DHABI: Bahrain is committed to keeping its dinar currency's peg to the US dollar a senior official at the Kingdom's central bank said on Monday.
"The peg will remain" Ebtisam Al-Arrayed head of regulatory policy at the central bank told Reuters on the sidelines of a conference.
The dinar pegged at 0.376 to the dollar has come under pressure in the foreign exchange forward market as low oil prices damage Bahraini state finances.
One-year dollar/dinar forwards hit a high of 600 points on Monday their highest level since at least the year 2000 according to Thomson Reuters data.
"The peg will remain" Ebtisam Al-Arrayed head of regulatory policy at the central bank told Reuters on the sidelines of a conference.
The dinar pegged at 0.376 to the dollar has come under pressure in the foreign exchange forward market as low oil prices damage Bahraini state finances.
One-year dollar/dinar forwards hit a high of 600 points on Monday their highest level since at least the year 2000 according to Thomson Reuters data.
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