Bahrain has enough foreign reserves to keep dollar peg

Bloomberg

Bahrain has enough foreign reserves to maintain its currency’s peg to the US dollar, central bank governor Rasheed Al-Maraj said, as higher oil prices help the island-kingdom ease pressure on its strained public finances. Al-Maraj, speaking in an interview in the capital Manama, said he wasn’t aware of any current talks between Bahrain and its Gulf Arab allies over financial support that could help the country avoid devaluation. “At this level we have adequate reserves to maintain the peg,” he said.