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Dollar/Saudi riyal forwards jump to 12-yr high on liquidity concerns
August 12, 2015 / 2:45 PM / in 2 years

Dollar/Saudi riyal forwards jump to 12-yr high on liquidity concerns

DUBAI, Aug 12 (Reuters) - The Saudi riyal plunged sharply against the U.S. dollar in the forwards market on Wednesday, near levels last seen 12 years ago, on liquidity concerns after the government issued local currency bonds this week, bankers and traders said.

One-year dollar/Saudi riyal forwards jumped as high as 290.0 points, their highest level since March 2003, from Tuesday’s close of 140.00 points. The forwards later fell to 230.00 points. (Reporting by Archana Narayanan; Editing by David French and Robin Pomeroy)

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