USD = 600.. Speculative cashiers continue to collapse riyal and rise in commodity prices

USD = 600.. Speculative cashiers continue to collapse riyal and rise in commodity prices


The local currency continues its collapse a day after the central bank scandal was uncovered and the governor and other officials looted in one month the amount of 9 billion riyals due to currency speculation, this amount for one month only and for Saudi riyals sales only.

The price of the dollar reached 600 riyals on Monday, up about 80 riyals in just two days, while Saudi Riyals reached 160 riyals, and the rise is due to speculation among the cashiers only, said cashiers to  Al-Masdar online.

The market was closed yesterday at a price of 560 riyals for the dollar and opened at the price of 600, and it got high while the market was closed.

Directly, food prices have risen to high levels, while dealers have refrained from selling essential items, till stabilizing the exchange rate, while fuel prices have risen again.


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