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Saudi Arabia's anti-corruption crackdown 'raises a few concerns': Tillerson

02:37 PM | 10 Nov, 2017
Saudi Arabia's anti-corruption crackdown 'raises a few concerns': Tillerson
DANANG, VIETNAM - US Secretary of State Rex Tillerson on Friday said that action launched by Saudi Arabia against elites accused of corruption "raises a few concerns".

Talking to media before reaching in the Danang, city in Vietnam, he called the anti-graft crackdown of Saudi Arabia was "well intended", adding that Washington was closely monitoring the investigation launched by the Gulf state into alleged misappropriation involving $100 billion.

He is accompanying President Donald Trump to the APEC summit in Vietnam.

"My own view is that it does, it raises a few concerns until we see more clearly how these particular individuals are dealt with," he said.

On Saturday, Saudi Arabia arrested 11 princes and dozens of current and former ministers in a sweeping crackdown as the kingdom’s young crown prince consolidates power.

According to the country’s media, the head of the Saudi National Guard, once a leading contender to the throne, as well as the navy chief and the economy minister were replaced in a series of high-profile sackings that sent shock waves in the kingdom.

The anti-corruption purge, which Saudi Arabia says a probe against estimated $100 billion embezzlement, was reported immediately after a new anti-corruption commission, headed by powerful Crown Prince Mohammed bin Salman, was established by royal decree late Saturday.

The purge comes as regional tensions constrain, with Saudi Arabia and Iran squabbling over a failed missile attack against Riyadh airport on Saturday, that was claimed by Tehran-backed rebels in Yemen.

A political crisis is also unfolding in Lebanon after prime minister Saad Hariri announced his shock resignation in a speech from Riyadh, citing Iran´s "grip" on his country and threats to his life.

Regarding the purgge, Tillerson said: "How disruptive it´s going to be remains to be seen".

"It´s my understanding that they´re characterizing these as not really arrests at this point but they´re presenting people with evidence of what they think the wrongdoing is to see if there´s a willingness to want to make things right," he added.

"So how they choose to deal with it at this point is still a bit unclear but I wouldn´t want to read more than what we know at this point."

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Pakistani rupee rate against US Dollar, Euro, Pound, Riyal - Check 20 April forex rates

Pakistani currency remains marginally same against US Dollar and other currencies on April 20, 2024. US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro comes down to 293 for buying and 296 for selling while British Pound stands at 342.25 for buying, and 345.65 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 20 April 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 293 296
UK Pound Sterling GBP 342.5 346
U.A.E Dirham AED 75.2 75.9
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.8
Bahrain Dinar BHD 740.55 748.55
Canadian Dollar CAD 201 203
China Yuan CNY 38.47 38.87
Danish Krone DKK 39.78 40.18
Hong Kong Dollar HKD 35.53 35.88
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 903.11 912.11
Malaysian Ringgit MYR 58.08 58.68
New Zealand Dollar NZD 164.22 166.22
Norwegians Krone NOK 25.61 25.91
Omani Riyal OMR 723.2 731.2
Qatari Riyal QAR 76.45 77.15
Singapore Dollar SGD 204.5 206.5
Swedish Korona SEK 25.31 25.61
Swiss Franc CHF 305.47 307.97
Thai Bhat THB 7.56 7.71

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