QCB Confirms to
QSE Investors Trading of Qatari Riyal at Onshore FX Rates.
November 28, 2017
Qatar Central Bank (QCB)
has confirmed the QCB’s willingness to guarantee to all
investors in QSE trading their Qatari Riyals at an exchange rate
equivalent to the Qatari official onshore FX rates.
In a letter addressed to
the QSE, the QCB said that the guarantee would stand as long as
the index provider MSCI continues to use the Qatari Riyal’s
onshore FX rates in its indices and this guarantee should
address any concern the MSCI investors might have on their
capacity to freely trade the Qatari Riyal at official onshore FX
rates.
The letter also referred to
the QCB press release issued on the 23rd of November 2017
stressing the QCB’s commitment to provide all requirements of
foreign currencies at the official rates to all QSE investors.
The letter came as a
response to MSCI’s announcement last week of launching
consultations with investors to use offshore rates instead of
local FX rates for the Qatari Riyal in its indices.
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