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.