Bahrain's Al-Majar: forex swaps valuable
The establishment of a foreign-exchange swap facility is a key initiative in Bahrain's effort to address the current financial turmoil, said Rasheed Al-Majar, the governor of the Central Bank of Bahrain.
Al-Majar said that the dollar-Bahraini dinar swaps offset the liquidity impact of capital outflows that occurred when speculative capital flows were reversed as the global financial crisis worsened in September.
He added that the swap facility was consistent with Bahrain's currency peg with the
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