PHOTO
Image used for illustrative purpose. A Saudi money changer displays Saudi Riyal banknotes at a currency exchange shop in Riyadh, Saudi Arabia September 29, 2016. Reuters Images/Faisal Al Nasser
CAIRO: Saudi Arabia's central bank on Wednesday increased its repo rate by 25 basis points to 5.75% and its reverse repo rate also by 25bps to 5.25%, it said in a statement.
Saudi Arabia, whose currency is pegged to the U.S. dollar, followed the U.S. Federal Reserve's decision to raise interest rates by a quarter of a percentage point. (Reporting by Alaa Swilam and Muhammad Al Gebaly)
