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September 9, 2015 0

Dollar Based Loans Jump 600% in Saudi Arabia as Companies Raise Cash; What’s the Risk?

By News Desk

In yet another oil price crash side effect, Dollar Denominated Loans in Saudi Arabia Jump 600% . Dollar borrowing in Saudi Arabia has surged seven-fold this year as the kingdom’s companies switch out of increasingly expensive local currency-denominated loans. About 65 percent of all loans taken out in Saudi Arabia through Tuesday were in dollars, compared with 13 percent for all of 2014, according to data compiled by Bloomberg