Bahrain yesterday accused foreign banks of unethically piling pressure on Gulf currency pegs. The Central Bank of Bahrain would "take action" against anyone targeting its dollar-pegged dinar, Governor Rasheed Al Maraj warned.
"There are foreign institutions packaging investment products based on currency revaluation, while their analysts are propagating the revaluation story and spreading rumours," he told Middle East Economic Digest in an interview.
"It is a clear conflict of interests and we look at this very suspiciously."
Mr Al Maraj said Bahrain would stand by its peg to the dollar.
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