Snip ~ IMF Executive Board Concludes 2010 Article IV Consultation with Saudi ArabiaPublic Information Notice (PIN) No. 10/117 August 27, 2010 Directors supported the authorities’ decision to maintain the dollar peg which has provided a credible and stable nominal anchor and contributed to macroeconomic stability.
They encouraged the authorities to continue developing their technical and operational capacity to conduct a more effective monetary policy, which could be valuable in the context of the planned monetary union.
Directors noted the staff assessment that the level of the exchange rate is broadly aligned with its fundamentals, while recognizing the methodological limitations of such assessment in the case of oil exporters.
full report @
http://www.imf.org/external/np/sec/pn/2010/pn10117.htm
