Saudi riyal interbank deposits were mainly steady at yesterdays 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.
SAUDI RIYAL DEPOSITS STEADY IN DULL MARKET