POST Online Media Lite Edition



 

Qatari riyal trade disrupted at several UK banks

Staff Writer |
At least six British banks have said they had fully or partially stopped dealing in Qatari riyals as the Gulf crisis disrupted overseas trading of Qatar's currency.

Article continues below






A spokeswoman for Britain's Lloyds Banking Group said on Friday a "third-party supplier" which handles its foreign exchange service had ceased trading in Qatar's riyal as of June 21.

"This currency is no longer available for sale or buy-back across our high street banks including Lloyds Bank, Bank of Scotland and Halifax," she said.

Tesco Bank said it had halted dealings in the riyal, while Barclays stopped trading riyals for retail customers but continued the service for corporate customers, a source said.

Royal Bank of Scotland said it had stopped trading riyals for retail customers.

A spokeswoman for HSBC said on Friday that the bank was still providing riyals for high street customers.

Exchange company Travelex said on Thursday it had resumed purchasing the Qatari riyal globally after a brief suspension "due to business challenges".


What to read next

UAE substitutes Qatar condensate with U.S. oil
More than 100 Chinese companies to come to Qatar
World Bank helping trade in the MENA region