VOL. XLII
No. 10
8-March-1999
SAUDI ARABIA
Sayyari Denies Reports Of Heavy Intervention To Defend TheSaudi Riyal
The Governor of the Saudi Arabian Monetary Agency (SAMA),Mr. Hamad al-Sayyari, on 27 February denied media reports that SAMA hadintervened significantly in the market to defend the riyal. According to areport by the Saudi Press Agency, Mr. Sayyari said that SAMA is ready tointervene at any time to defend the Saudi riyal and preserve its value, butthat there is "no plan or need" to...
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