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Money Canadian dollar gets whacked after Saudi Arabia reportedly starts dumping the country's assets 'no matter the cost'

07:31  09 august  2018
07:31  09 august  2018 Source:   msn.com

Saudi Arabia expelling Canadian ambassador

  Saudi Arabia expelling Canadian ambassador Saudi Arabia expelling Canadian ambassador"We consider the Canadian ambassador to the Kingdom of Saudi Arabia persona non grata and order him to leave within the next 24 hours," Saudi Arabia's foreign ministry said on Twitter.

The Canadian dollar fell on Wednesday after the Financial Times reported that Saudi Arabian officials instructed the kingdom' s asset managers to dump their holdings of the country ' s assets . According to the FT's Simeon Kerr, Saudi Arabia ordered the divestments " no matter the cost " after Canada

The Canadian dollar fell on Wednesday after the Financial Times reported that Saudi Arabian officials instructed the kingdom' s asset managers to dump According to the FT' s Simeon Kerr, Saudi Arabia ordered the divestments " no matter the cost " after Canada criticized its arrest of Samar Badawi, a

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The Canadian dollar fell on Wednesday after the Financial Times reported that Saudi Arabian officials instructed the kingdom's asset managers to dump their holdings of the country's assets.

According to the FT's Simeon Kerr, Saudi Arabia ordered the divestments "no matter the cost" after Canada criticised its arrest of Samar Badawi, a women's rights activist. Saudi central bank and state pension funds told their overseas asset managers to unload Canadian bonds, stocks, and cash holdings "no matter the cost," the report said. The selling began on Tuesday, it said.

The Canadian dollar was down by 0.2% against the US dollar to 1.3096 at 8:59 a.m. ET. It slid to its lowest level in two weeks.

Canada's foreign ministry tweetedFriday that it was "gravely concerned" about the arrests of women's rights activists. Then on Tuesday, Saudi Arabia's national airline Saudia suspended flights to and from Toronto in the feud over the arrest of several prominent human-rights activists.

Canada PM says in diplomatic talks with Saudi Arabia .
Canada PM says in diplomatic talks with Saudi Arabia"We continue to engage diplomatically with Saudi Arabia, I think it's important to have positive relationships with countries around the world," Trudeau told reporters after Cabinet meetings in British Columbia.

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