VOL. XXXII
NO. 7
21-NOVEMBER-1988
Financial and Banking News
BUDGETS AND REVENUES
Aba al-Khail Denies SR Devaluation Rumours
The Saudi Minister of Finance and National Economy, Mr. Muhamad Aba al-Khail,last week denied that his government had any intention of devaluing the SaudiRiyal (SR). The Minister's denial, which was made on 17 November and whichexplicitly referred to persistent rumours that a devaluation was imminent,repeated that the SR/$ rate will remain unchanged at SR3.75=$1. On 12...
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