A Saudi banker displays the new one hundred riyal banknote bearing the portrait of Saudi King Abdullah bin Abdul Aziz al-Saud at a bank in Riyadh, 05 June 2007. AFP PHOTO/HASSAN AMMAR
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Contracts used to bet whether Saudi Arabia and the United Arab Emirates will allow their dollar-pegged currencies to weaken fell to the lowest levels since December.Similar contracts for the UAE dirham retreated to a three-month low on a closing basis.The declines point to a shift in investor expectations that either of the Arab world's largest economies will allow their currencies to weaken in response to an almost 70 percent rout in oil prices in the past 20 months. Riyal forwards had climbed to the highest in at least two decades in January, and dirham contracts to the highest since 2009 . Twelve-month riyal forward contracts fell 65 points to 485 .
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