Qatari Banks Cut Dollar Sales to Foreign Lenders
- Foreign lenders are struggling to convert riyals to dollars
- QNB says central bank providing dollars for ‘legitimate’ deals
100 Days Since the Qatar-Gulf Feud Began
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Some Qatari banks are becoming less willing to sell dollars to foreign lenders amid a lingering regional standoff with a Saudi-led alliance, according to people familiar with the matter.
Foreign exchange activity between local and international banks is almost at a standstill, the people said, asking not to be identified because the matter is private. The central bank is still providing dollars to local lenders to meet domestic business needs at the pegged rate of 3.64 riyals per dollar, they said.