UPDATE 1-Saudi riyal at weakest since June 2017 on Khashoggi case | Reuters:
Saudi Arabia’s riyal was quoted at 3.7514 to the U.S. dollar in the spot market early on Monday, its weakest rate since June 2017, Refinitiv data showed, as the kingdom faced pressure over missing journalist Jamal Khashoggi.
The central bank maintains a peg of 3.75 riyals to the dollar, and usually, the currency fluctuates in a range of about 3.7498-3.7503.
Saudi financial markets have come under pressure in the last few days as U.S. President Donald Trump has threatened to punish Riyadh if it turns out that Khashoggi was killed in the Saudi consulate in Istanbul as alleged by the Turkish authorities. The stock market sank 3.5 percent on Sunday.
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