Thndr Claps » Saudi Claps » Economy 🏙 » Saudi Central Bank raises “Repo” & “Reverse Repo” prices 🏦
The ClapThe Saudi Central Bank (SAMA) raised the rate of repurchase agreements “Repo” by 75 basis points, to reach 3.75, and reverse repurchase agreements by 75 basis points, to become 3.25%.The DeetsSAMA followed in the footsteps of the Fed, which recently raised interest rates by 0.75% for the third time in a row, due to the correlation between the riyal and the dollar.RepoThe repo rate represents the lending rate from SAMA to banks, while the reverse repurchase agreement rate (reverse repo) represents the deposit rate.Why this MattersThe Bank’s recent decisions come within its objectives to maintain the monetary and financial stability of KSA in light of global developments.
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