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A view exhibits buildings and homes in Riyadh, Saudi Arabia, March 1, 2017. REUTERS/Faisal Al Nasser
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DUBAI, July 27 (Reuters) – The Saudi Central Financial institution stated on Wednesday it elevated its key rates of interest by 75 foundation factors, transferring in tandem with the U.S. Federal Reserve’s hike because the Saudi riyal is pegged to the greenback.
The Saudi Central Financial institution, also called SAMA, lifted its repo and reverse repo charges by 75 bps to three% and a pair of.5%, respectively.
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Reporting by Yasmin Hussein in Cairo; Writing by Yousef Saba in Dubai
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