A Saudi money changer displays Saudi Riyal banknotes at a currency exchange shop in Riyadh, Saudi Arabia September 29, 2016. REUTERS/Faisal Al Nasser
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Saudi Arabia has work to do to ease pressure in the kingdom's banking system.The increase is defying the central bank, which has sought to ease the cash crunch by relaxing lending limits, offering new borrowing facilities, and injecting funds into the financial system, including 20 billion riyals ($5.3 billion) pledged Sept. 25 .The three-month Saudi Interbank Offered Rate, or Saibor, used as a benchmark to price loans, has climbed 15 successive months to the highest in seven years, according to data compiled by Bloomberg.The loans-to-deposit ratio among Saudi banks, a key measure of liquidity, rose to 90.8 percent in August, the worst since 2008 .
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