Saudi to discuss revaluing riyal at Sun meeting-paper

RIYADH, Feb 16 (Reuters) - A Saudi Arabian council that advises the king will discuss revaluing the riyal against the dollar at a meeting on Sunday with the finance minister and central bank governor, a newspaper reported on Saturday.

Reviewing the exchange rate of the riyal versus the U.S. dollar is a "necessity", daily al-Eqtisadiah quoted Osama Abu-Gherara, deputy chairman of the Shura Council's finance committee, as saying.

Abu-Gherara said the kingdom had yet to take "concrete steps" to combat inflation, which surged to a 16-year high of 6.5 percent in December.

(Reporting by Souhail Karam, editing by Daliah Merzaban)