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QAR rises against USD in forward market – Reuters

QAR rises against USD in forward market – Reuters
The Qatari currency was last pegged at QAR 3.64 per dollar.

Doha – Mubasher: The Qatari currency on Tuesday rose to QAR 3.751 against the US dollar in the forward market, Reuters reported.

The QAR gains followed two straight declines following the diplomatic rift between Qatar and several Arab and Gulf countries that began on 5 June.

One-month futures fell to QAR 3.793 on Monday, while three-month futures rose to QAR 3.755 on Tuesday, compared to QAR 3.796 yesterday, Reuters noted.

On the second day of the political rift, the Qatari riyal fell below its peg to QAR 3.647 per dollar in the spot market, registering its lowest level in 11 years.

The Qatari currency was last pegged at QAR 3.64 per dollar.