Qatar accuses Saudi Arabia, UAE of weakening currency

TEHRAN, Jan. 24 (MNA) – Qatar Central Bank has accused Saudi Arabia and the UAE of weakening its national currency through illegal market manipulation.

Qatar Central Bank, on Wednesday, sent a letter to international observer organizations listing a number of what it called illegal moves by Saudi Arabia and the UAE, such as influencing securities and reducing deposits in banks aimed at creating a lack of liquidity and inflicting losses on Qatar in financial markets especially in US.

On June 15 last year, Saudi Arabia, Bahrain and the UAE accused Qatar of supporting terrorism. They cut off their relations with Qatar, closing their land, sea and air borders with Qatar. In return, Qatar accused them of supporting terrorism.

In December 2017, Qatar Central Bank Governor Abdullah bin Saoud al-Thani accused Saudi Arabia and its allies of trying to manipulate national currency, securities and other derivatives for a coordinated strategy to harm the Qatari economy. He added that Qatar Central Bank has hired a number of New York law firms to conduct research in this regard.

SP/IRN 82807005

News Code 131603


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