Bahrain central bank says remains committed to dollar peg

 25 Jan 2016 - 10:57

Bahrain central bank says remains committed to dollar peg

 

ABU DHABI: Bahrain is committed to keeping its dinar currency's peg to the US dollar, a senior official at the kingdom's central bank said on Monday.

"The peg will remain," Ebtisam al-Arrayed, head of regulatory policy at the central bank, told Reuters on the sidelines of a conference.

The dinar, pegged at 0.376 to the dollar, has come under pressure in the foreign exchange forwards market as low oil prices damage Bahraini state finances.

One-year dollar/dinar forwards hit a high of 600 points on Monday, their highest level since at least the year 2000, according to Thomson Reuters data.

Reuters