A rise in oil prices has supported an improvement in Saudi Arabia’s current account position, which should be in surplus over the coming years. That, combined with signs that the sovereign wealth fund is slowing its international investments, will help to limit any further decline in the Kingdom’s foreign exchange reserves. The result is that the dollar peg is unlikely to come under pressure any time soon.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.