Qatar sets date for banks to obey FX limits

Qatar’s

central bank told commercial banks yesterday that they would have to obey new restrictions on their open positions in foreign currency by April 1. In April 2016, the central bank had said it planned to introduce a ceiling on total foreign currency positions — surplus or deficit — of 30 per cent of each bank’s capital and reserves. Yesterday, the central bank said the rule, which would “limit the risks of foreign currency open positions”, would also apply to Qatari banks’ foreign branches. (Reuters)