Saudi Arabia postpones decision on keeping the riyal pegged to the dollar

Saudi Arabia has reportedly postponed a decision to end pegging its currency to the U.S. dollar until the time is “right,” Okaz newspaper reported, citing unnamed informed sources.

The kingdom has adopted a fixed exchange rate of SAR 3.75 per U.S. dollar for the past three decades.

The Saudi riyal peg to the U.S. dollar is being studied to measure the impact on the economy, the sourced told the newspaper.

The policy will be continuously reviewed and evaluated, according to Okaz.