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10-06-17
Qatari riyal falls against dollar amid diplomatic crisis
(MENAFN) On Friday, Qatari riyal fell against the U.S. dollar in the offshore forwards market, amid concerns over about capital outflows due to the diplomatic crisis hitting the country.
In details, one-year dollar/riyal forwards increased their highest level since December 2015 as high as 630 points, when a fall of oil and gas prices caused concern about the viability of Gulf economies.
However, Qatar credit default for five years switches, which used to hedge against the risk of a Qatari sovereign debt default, rose to 93.6 points from 90.1 late on Thursday.
MENAFN1006201700450000ID1095547751
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