1999 News Story

SAMA Governor denies rumors of currency problems

Governor of the Saudi Arabian Monetary Agency (SAMA) Hamad Al-Sayyari today denied reports that the Saudi Riyal is facing pressure.  Commenting on a report originating from a European newspaper, he said that there are no plans to change the rate of exchange of the Kingdom's currency.  He added that SAMA is always ready to intervene to support and protect the Saudi Riyal and preserve its value, but that no such action was required at this time.