Riyadh – Mubasher: Saudi Arabia would not change its exchange policy adopted thirty years ago, said Ahmed Al-Khalifa, the new governor of the Saudi Arabian Monetary Agency (SAMA).
"The agency does not intend to change the exchange rate policy," he said in an interview with the Al-Arabiya satellite channel on Thursday, adding “There are no benefits from changing the current exchange rate."
The governor also pointed out that banking indicators show normal and regular operations, affirming, "problem loan ratio does not exceed 1.2%."
Further, riyal devaluation, he continued is a research paper's presumption to study a wide range of options for the currency.
But the current exchange rate of riyal to US dollar still stands at $3.75, as all studies suggest being the current policy the best for the Kingdom's future, he confirmed
