Saudi Arabia currency, stocks hit by one of the worst crisis
DUBAI - Saudi Arabia’s currency has been hit with a worst currency crisis over 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 foreign investment inflows could shrink as Riyadh faces pressure over the disappearance 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 of capital outflows or US sanctions on Riyadh after the disappearance of Khashoggi, a prominent critic of Saudi authorities, in Istanbul.
But the market moves were smaller than some bouts of instability in the last several years, indicating investors were not as panicked by the Khashoggi case as they were by a plunge of oil prices that began in 2014.