Bahrain bleeding foreign reserves

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