Saudi Arabia's central bank is not interested in buying distressed or speculative assets such as troubled European debt and gold and the OPEC member's banks are well positioned to withstand the euro zone crisis, its head said on Saturday.
The world's No. 1 oil exporter like most of its Gulf Arab neighbors is a major holder of dollar assets as its riyal currency is pegged to the greenback and crude accounts for 85 percent of its budget revenue.
Asked if the Saudi Arabian Monetary Agency had considered buying European sovereign bonds such as Italian ones, Governor Muhammad al-Jasser told Reuters: "We do not buy specific bonds at all. We have not done it."
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