Reuters reveals Qatar tells local banks to stop currency swap deals abroad – Reuters News Agency

Reuters exclusively reported Qatar’s central financial institution has informed banks within the Gulf state to not trade its forex with entities exterior the nation with out prior permission, in a transfer bankers say goals at ending the riyal’s divergence towards the greenback. The Qatari riyal, formally fastened at 3.64 to the greenback since 2001, has within the offshore market been quoted under its peg for probably the most half since mid-2017 when 4 Arab states boycotted Doha in a political row, which was resolved in early 2021.