Soaring Saudi Interbank Rates Prompt $4 Billion Injection: Chart

Saudi Banks Face Liquidity Crunch

As borrowing costs of Saudi banks soar to seven-year highs, the central bank has been trying to limit the blow. Policy makers injected 15 billion riyals ($4 billion) into the financial system in June, according to data revealed this week. Liquidity has dried up as the government of the world’s largest oil exporter scales back spending in response to the 60 percent drop in crude in the past two years.

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