The move followed the Federal Reserve's decision to cut U.S. interest rates by 25 bps on Wednesday
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CAIRO: Saudi Arabia's central bank cut its repurchase agreement (repo) rate by 25 basis points to 4.75% on Wednesday, according to a statement, and its reverse repo rate also by 25 bps to 4.25%.
The move followed the Federal Reserve's decision to cut U.S. interest rates by 25 bps on Wednesday. Saudi Arabia's currency, the Saudi riyal, is pegged to the U.S. dollar. (Reporting by Menna Alaa El-Din and Jaidaa Taha; Editing by Chizu Nomiyama )
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