SAUDI RIYAL DEPOSITS STEADY IN DULL MARKET
Saudi riyal interbank deposits were
mainly steady at yesterday"s higher levels in a market which saw
little activity due to the European weekend, dealers said.
    They said banks in the kingdom offered two and three month
deposits 1/16 of a percentage point lower, but there were few
takers.
    Rates for short-dated and other fixed period funds were
little changed following their sharp rise on Saturday brought
on by higher eurodollar deposit rates.
    Spot-next and one-week deposits were relatively unchanged
at 6-3/4, 1/2 pct.
    One-month deposits were steady at 6-3/4, 1/2 pct while
three-month funds eased to 6-7/8, 5/8 pct from 6-15/16, 11/16.
    Six-month deposits also declined marginally to 7-5/16,
7-1/8 pct from quotes of 7-3/8, 1/8 at the close of trade on
Saturday.
    The spot riyal was steady at 3.7499/7504 to the dollar.
 REUTER
