Economics
U.K. Banks Halt Consumer Qatari Riyal Trades
- Lloyds, RBS, Barclays stop exchange of currency for consumers
- Saudi Arabian-led coalition is imposing sanctions on Qatar
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Three of the U.K.’s biggest banks have stopped trading Qatari riyals as the Gulf state faces sanctions imposed by a Saudi-led coalition of neighboring states.
Barclays Plc, Lloyds Banking Group Plc and Royal Bank of Scotland Group Plc ceased the sale and buy-back of the Qatari currency for consumers, the banks said on Friday. Officials for the banks said the problem relates to a supplier, without providing details of the third party.