Qatari Riyal
Budget deficit is expected to register 5.1 percent of GDP this year, while inflation’s forecast declined to 2.2 percent from 2.5 percent.
Foreign liabilities of commercial banks declined, fueling concerns about a potential struggle in external debts, Capital Economics said.
Two busy-schedule months for Arab foreign ministers passed, however, the political rift between four Arab states and Qatar is still ongoing, imposing economic pressures on Doha
The stock is valued at QAR 150,000, spread over all 66 accredited exchange offices.
Qatar’s riyal faces a devaluation threat as British banks and international financial institutions halted currency dealings.
Other international foreign banks and exchange companies also stopped using the Qatari riyal.
Qatar runs the risk of major economic catastrophe after Saudi Arabia, U.A.E. and Bahrain withdraw $16 billion of short-term deposits from Qatari banks.
Qatar is unlikely to devaluate its riyal on strong foreign reserves and balance sheets, London-based consultancy Capital Economics predicted Sunday.
Foreign currency exchange rates stabilized against the Egyptian pound in Wednesday banking transactions.
State-owned Egyptian banks National Bank of Egypt (NBE) and Banque du Caire have stopped dealing with the Qatari riyal (QAR) on Monday.
