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Saudi Riyal Hits 21-Year High after UAE Report - ASHARQ AL-AWSAT English Archive
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DUBAI (Reuters) – The Saudi Arabian riyal hit a 21-year high and the Qatar riyal a five-year high after a Dubai-based magazine said the United Arab Emirates could allow the dirham to appreciate 3 to 5 percent as early as Sunday.

Bids on the dollar-pegged Saudi riyal were as high as 3.6900 per dollar, the strongest since 1986, and bids on the Qatar riyal hit 3.6250 per dollar, the highest since November 2002.

The UAE dirham hit its highest in at least 17 years on Wednesday after the online Arabian Business magazine report, in which the weekly publication did not identify sources.

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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