QCB Stresses Stability of Qatari Riyal against U.S. Dollar

Doha, June 29 (QNA) - Qatar Central Bank (QCB) said that the reports circulating across different media about the trading and exchange rate of the Qatari Riyal are baseless. In a statement issued Thursday, QCB said the Qatari Riyal's exchange rate is absolutely stable against the U.S. dollar, adding that exchangeability of Riyal inside and outside Qatar is guaranteed at any time at the official price based on a set of data, including the International Monetary Fund's acknowledgement of the Qatari Riyal as an official currency as well as the fact that it is covered by QCB through huge cash reserves. The statement added that QCB will guarantee all exchange transactions for customers inside and outside Qatar without delay, noting that all banks and local exchange companies are committed to exchanging it as usual. (QNA)