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Governor of the Saudi central: put the currency "very reassuring"

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Governor of the Saudi central: put the currency "very reassuring"

01:18 - 19/12/2018

 
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Follow - up - balances News 
Saudi central bank governor said on Wednesday the local currency put the riyal "very reassuring", warning that the bank will not be allowed to speculate in it. 
"When we say that it is a red line, we mean that we will not allow anyone to fight it," Governor Ahmad al-Khulaifi told a news conference. He 
reiterated that the central bank does not intend to change its exchange rate policySaudi Arabia keeps the exchange rate pegged at 3.75 to the dollar

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Minister Of Finance: Saudi Arabia May Issue Bonds In Currencies Other Than The Dollar

Reuters one hour ago


Saudi Arabia's finance minister told Al Arabiya television that Saudi Arabia could issue bonds in currencies other than the US dollar.

Saudi Arabia has issued $ 52 billion in dollar bonds since the global debt markets began in 2016.

Earlier this year, government representatives met with bond investors in Taiwan to discuss the possible sale of Formosa bonds - debt securities sold in Taiwan from foreign borrowers and denominated in currencies other than the Taiwanese dollar.

 
 
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Saudi Arabia approves the largest budget in its history

Saudi Arabia approves the largest budget in its history



 Twilight News    
 Tuesday, 18 December 2018

(Reuters) - Spending in the government's budget for 2019 will reach 1.106 trillion riyals, the largest in the kingdom's history, state television said.

Saudi budget spending is expected to rise to 1.106 trillion riyals ($ 295 billion) next year, from an actual spending of 1.030 trillion riyals this year, state television said.

He stressed that the budget deficit in 2019 will be 131 billion riyals, at 4.2% of GDP, stressing that the budget expects to reach the public debt of Saudi 678 billion riyals in 2019.

The budget estimates Saudi Arabia's GDP growth at 2.6 percent in 2019, after 2.3 percent in 2018, he said.

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5 hours ago, yota691 said:

Saudi Arabia keeps the exchange rate pegged at 3.75 to the dollar

 

Come on Iraq, you can't be outdone by your neighbors. It's like living next to the house with the largest Christmas light display. :lol:

                                                              Related image
                                                                                                IRAQ
 
                                                                             SAUDI ARABIA
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My dog ate a jar of Vaseline-I’m home all day and what a day it’s been so far. 🤮 - KB, your post is Spot On ! 

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“Saudi Arabia keeps the exchange rate pegged at 3.75 to the dollar”

 

This means 1 Saudí Riyal = $0.27 dollars.

 

I will take $0.27 dollars per IQD in a heartbeat 

 

Go cbi

Go New monetary policy 

Go RV

 

 

 

 

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Just to clarify the above, The current exchange rate of the Saudi Riyal to the US Dollar =  $ .26651

Thus it takes 3.75 Saudi Riyal to make 1.00  US Dollar.

On a positive note $ .26651 coming out of the gate in exchange for  1 IQD would be a positive sign :bagofmoney:

Semper Fi :salute:

RV There yet ?:pirateship:

Merry Christmas and a Prosperous New Year to all at DV :tiphat:

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Unlike a democracy Sadi government is run by the royal family. No voting to

stall their decisions. This is why they are more efficient than even the USA

Six months after iraq's election we still don't have a seated government.  Lol

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From what I read this is about the Sadi currency not mentioning Iraq currency so why is everybody getting excited and figuring out values for Iraq Dunar ?  Or am I reading this incorrectly.   

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It's interesting to find out the rates of other middle east countries, hoping Iraq will see what they need to do.

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4 hours ago, 10 YEARS LATER said:

My dog ate a jar of Vaseline-I’m home all day and what a day it’s been so far. 🤮 - KB, your post is Spot On ! 

Smooth...but your dog could have been like this old dog

 

 

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16 minutes ago, Theseus said:

Smooth...but your dog could have been like this old dog

 

 

 

👏👏👏👏👏👏 👌

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It would be GREAT if Iraq would match this! I will most definitely take a little more then a quarter to one US dollar !!! You can do it Iraq!!!!

I am sooooo ready! 

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17 minutes ago, southbeach said:

Remember the GCC stated they wanted a unified currency rate for all member States, and I believe Iraq is a member (yet)?

 

i believe iraq is the only arab country bordering the persian gulf  that is not a member of the GCC all current gcc members are monarchies and in years past there was talk of some sort of proposal to transform the GCC to " gulf union " and something thrown into the mix about currency but like many news articles that seem to just kinda fade away into news cyberspace, i still have hope this will all come together for iraq and investors one day .. cheers dv'ers 

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9 hours ago, 10 YEARS LATER said:

My dog ate a jar of Vaseline-I’m home all day and what a day it’s been so far. 🤮 - KB, your post is Spot On ! 

 Hey 10. Did you hear about the newlywed couple that didn't know the difference between Vaseline and putty? All their windows fell out. 😎

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He 
reiterated that the central bank does not intend to change its exchange rate policySaudi Arabia keeps the exchange rate pegged at 3.75 to the dollar.........I assume this does not mean necessarily they wont have to change it later .

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1 hour ago, FROSTYJACK said:

 Hey 10. Did you hear about the newlywed couple that didn't know the difference between Vaseline and putty? All their windows fell out. 😎

 

I thought of a moment there you were trying to squeeze in a dirty joke and you kept it clean . . . wish I could do that.  ;)

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11 hours ago, Hotcurl said:

Just to clarify the above, The current exchange rate of the Saudi Riyal to the US Dollar =  $ .26651

Thus it takes 3.75 Saudi Riyal to make 1.00  US Dollar.

On a positive note $ .26651 coming out of the gate in exchange for  1 IQD would be a positive sign :bagofmoney:

Semper Fi :salute:

RV There yet ?:pirateship:

Merry Christmas and a Prosperous New Year to all at DV :tiphat:

Actually it takes 3.75 us dollars to equal  1 Saudi riyal.

 

Screenshot_20181219-222953_Chrome.jpg

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not sure if its the only reason the saudis keep their exchange rate at around 27 cents to the dollar but best i remember they take care of their citizens with cradle to grave benefits for lack of a better word or terms its like a comfortable welfare state ...

lets go cbi times wasting 

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1 hour ago, 3n1 said:

not sure if its the only reason the saudis keep their exchange rate at around 27 cents to the dollar but best i remember they take care of their citizens with cradle to grave benefits for lack of a better word or terms its like a comfortable welfare state ...

lets go cbi times wasting 

 

Back in 05 when I bought my dinar the Commander of the compound said when they revalue it will come out at 27 cents per dinar. But I am not reading into any of this. 

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Bloomberg: Saudi Arabia's vision of economic reform is confused

03:44 - 22/12/2018

 
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The new expansionist budget for Saudi Arabia suggests the government lacks the determination and discipline to break the country's reliance on oil, reduce government aid and develop a viable private sector, the Bloomberg news agency reported 
The next year's budget - announced on Tuesday - is expected to spend about $ 300 billion, the largest in the kingdom's history, despite weak oil prices and falling production. 
In an editorial entitled "Saudi Arabia's distorted vision of economic reform," the agency noted that the budget recorded a deficit of 4.2% of GDP, and that the gap could widen as revenue projections depend on the price increase is unlikely. 
The government has announced that it will extend for another year its annual grant to citizens. This type of spending is precisely what the Saudi economic plan, known as 2030, intended to eliminate.
Bloomberg sees steps the government can take to reassure investors that their vision of a diversified and well-run economy has not been destroyed. 
A good start would be to abandon luxury plans to spend $ 500 billion to build a new city on the northwestern coast of the kingdom, she said. 
The government should speed up the privatization of 14 state-owned companies - announced in April - as this will help secure a definitive end to grants after 2019. 
Bloomberg concludes that leaving investors in doubt about the Kingdom's commitment to reform will deepen the problems that have already caused the Including the repercussions of the killing of journalist Jamal Khashoggi, and said that what she called "desperate measures" is not a substitute for the economic reforms considered.

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On 12/20/2018 at 12:21 AM, 10 YEARS LATER said:

 

I thought of a moment there you were trying to squeeze in a dirty joke and you kept it clean . . . wish I could do that.  ;)

Here I will tell you a dirty joke to make up for it,

 

 

A man fell into a mud puddle. He took a bath. 

 

You laughed! Didn't you?

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