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Tuesday, 6 June 2017

Qatari riyal under pressure as Saudi, UAE banks delay Qatar deals | Reuters

Qatari riyal under pressure as Saudi, UAE banks delay Qatar deals | Reuters:

"The Qatari currency came under pressure on Tuesday as Gulf commercial banks began to hold off on dealing with Qatari banks because of the diplomatic rift in the region, banking sources told Reuters. Some Saudi Arabian, United Arab Emirates and Bahraini banks were delaying business with Qatari banks, such as letters of credit, after their governments cut diplomatic ties and transport links with Doha on Monday, accusing Qatar of supporting terrorism. Saudi Arabia's central bank advised banks in the kingdom not to trade with Qatari banks in Qatari riyals, the sources said. The central bank did not respond to a request for comment."



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