DUBAI – Saudi Arabia’s currency has been hit with a worst currency crisisover the issue of missing journalist and subsequent American threats.
Saudi currency fell to its lowest level in two years.
Saudi international bond prices slipped on Monday over fears that foreigninvestment inflows could shrink as Riyadh faces pressure over thedisappearance of journalist Jamal Khashoggi.-
Trade in the forward currency market, used by banks to hedge investments,suggested some institutions were protecting themselves against the risk ofcapital outflows or US sanctions on Riyadh after the disappearance ofKhashoggi, a prominent critic of Saudi authorities, in Istanbul.
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But the market moves were smaller than some bouts of instability in thelast several years, indicating investors were not as panicked by theKhashoggi case as they were by a plunge of oil prices that began in 2014.
