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.