MANAMA, June 26 (Xinhua) -- The Central Bank of Bahrain (CBB) on Tuesday said it is committed to keeping its currency pegged to the U.S. dollar.
The bank issued an urgent statement after the Bahraini dinar fell in the spot market to a 17-year low because of concerns about the country's rising public debt.
"The CBB is committed to keeping its currency pegged to the U.S. dollar set at 0.37608 and has no plans to alter the Bahraini dinar's value," the statement said.
The bank confirmed that it will maintain the existing monetary policy, centered on a peg to the U.S. dollar.
"The peg remains an important policy and provides an anchor for monetary policy which contributes to the stability of financial transactions and a positive impact on the overall economic and investment activities," the CBB said.
