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Bahrain central bank says remains committed to dollar peg
(MENAFN- The Peninsula)
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 forwards 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.
Reuters
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