Goldman Says Saudi Peg ‘Here to Stay,’ Though at Cost to Economy

SourceBloomberg
SectorEconomy
CountrySaudi Arabia

Saudi Arabia tethers its currency to the dollar and tends to move in lockstep with the U.S. Federal Reserve.  Photographer: Maya Anwar/Bloomberg Photographer: Maya Anwar/Bloomberg Follow us @middleeast for more news on the region.Saudi Arabia is sacrificing non-oil economic growth with fiscal policies designed to ensure its currency peg’s stability during a period of low crude prices, according to Goldman Sachs Group Inc. ...read more...