Qatar seeking more currency data from banks in FX manipulation probe -sources | Reuters

Qatar seeking more currency data from banks in FX manipulation probe -sources | Reuters:

"Qatar’s central bank is seeking more data from banks about U.S. dollar-riyal trades as it investigates suspected attempts to devalue its currency at the height of a diplomatic standoff with some other Gulf states, sources familiar with the matter said. Qatar keeps its riyal pegged at a fixed rate to the dollar like most of its Gulf neighbours. But after Saudi Arabia, the UAE, Bahrain and Egypt accused it of backing terrorism and imposed an economic boycott on it last June, Qatar has seen the riyal trade several percent weaker than its pegged rate of 3.64 per dollar in offshore markets. The central bank said in December it was investigating attempts by countries opposed to it to harm the Qatari economy by manipulating the currency, securities and derivatives markets."



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