Recent

Pilgrims circling the Kaaba, Islam's holiest shrine, at the Grand Mosque in Saudi Arabia's holy city of Mecca, on September 6, 2016.  (AFP/Ahmad Gharabli)
September 08, 2016 - 06:16 GMT
As Eid Al-Adha approaches, Saudi Arabia's flourishing exchange market is witnessing a high demand on the dollar and lower demand for the euro.
The Central Bank of Egypt officially allows exchange offices to sell the US dollar with a 15 piaster difference above or below the official selling price. (File photo)
August 15, 2016 - 15:00 GMT
A new banking law sets fines between EGP 1m-5m and prison terms between six months and three years for exchange companies selling the US dollar at a higher rate than the CBE.
The riyal’s exchange rate  is currently at 3.75 against the U.S. dollar according to the Central Bank's website. (File photo)
August 14, 2016 - 08:00 GMT
Saudi Arabia’s Central Bank Governor shoots down speculation over the riyal, saying that it had “sufficient tools” to support its fixed exchange rate policy.