Investors Bet Oil Crash Will Weaken Middle East Currency Pegs

Investors Bet Oil Crash Will Weaken Middle East Currency Pegs

Drop in oil revenue is putting pressure on governments to borrow more to cushion the economy from the coronavirus. But crudeâ s recent drop to historic lows is tempting investors to bet against currency pegs once again.. Forwards markets, where investors bet on the future value of currencies, suggest the Omani rial, which the government keeps pegged against the dollar, could drop more than 5% against the greenback in the next 12 months..