Bahrain bleed­ing for­eign reserves

New Straits Times - - Business -

RIYADH: Bahrain has been un­able to stem the decline in its for­eign reserves as lower oil prices strain its econ­omy. Net for­eign as­sets dropped 11 per cent to 645.2 mil­lion di­nars (RM7.3 bil­lion) in Fe­bru­ary, from 725.9 mil­lion di­nars in Jan­uary, Bahrain’s cen­tral bank re­ported on Sun­day. It’s down 71 per cent from a peak of 2.24 bil­lion di­nars in 2014. Bahrain, which pegs the di­nar to the US dol­lar, has been more vul­ner­a­ble to oil prices and po­lit­i­cal in­sta­bil­ity than richer Gulf Co­op­er­a­tion Coun­cil states. Agen­cies

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