This book sheds new light on the critical importance of the Saudi Arabian Monetary Agency (SAMA), a remarkably successful central bank that is a model for developing oil exporters worldwide. As a "swing producer", Saudi Arabia has traditionally stepped in to make up for oil supply shortfalls in...

Saudi Arabia has a fixed exchange rate regime, with a dollar peg. The spot USD/SAR exchange rate has remained unchanged at 3.7500 since June 1986, as SAMA provides dollars to the domestic banks to meet the commercial and financial demand of the private sector. SAMA FX intervention has been...