Saudi Arabia announced on Tuesday continuing alongside Kuwait and the UAE talks with fellow Gulf citizens in Kingdom of Bahrain means to strengthen financial stability.
Riyadh, Kuwait and Abu Dhabi confirmed during consultations their commitment to consider all options available for providing necessary support and to finalize the roadmap for an integrated support program backing economic reforms and stability of public finances in Bahrain, the Saudi Press Agency reported.
The Central Bank of Bahrain (CBB) announced on Tuesday that it is committed to keeping its national currency pegged to the dollar, and that there is no change in value of the Bahraini dinar.
Regional bankers in the region say they have not seen any organized targeting of the currency, but the fall in prices of Bahrain international bonds in recent weeks has fueled concerns about foreign currency trading.
The central bank pegs the dinar at 0.376 to the dollar. The plunge in Bahrain’s international bond prices in recent weeks had fueled jitters in the foreign exchange market.
