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Saudi C.Bank Gov says Dollar Serves Economy Well - ASHARQ AL-AWSAT English Archive
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JEDDAH, (Reuters) – The U.S. dollar is serving Saudi Arabia’s economy well and the central bank expects to see more lending this year as banks’ balance sheets are robust, the Gulf country’s central bank head said on Sunday.

“The dollar remains under the current conditions and the past serving the Saudi economy in a large way because our economy depends strongly on exporting oil, and our imports are mostly priced by the dollar,” said Muhammad al-Jasser, Governor of Saudi Arabian Monetary Agency (SAMA).

“That is why it is only natural that the dollar remains the most suitable for us,” he told reporters on the sidelines of an economic forum.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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