Emerging Markets Rates and Currencies Handbook

Bahrain (BHD - Bahraini Dinar) Citi in Bahrain Citi is present in Bahrain since 1969 and has a client portfolio consisting of multinational, SMEs and top tier local clients. Market Overview The local currency is pegged to USD — Central Bank has a band for retail clients (0.376 — 0.378) and offers a spot USDBHD window for retail transactions. Majority of the local volume is in GCC currencies — USDSAR; USDBHD; USDAED. G10 main currencies are EUR, JPY and GBP. No restrictions on FX hedging. No market in hedging for interest rates in BHD. Convertibility Currency is fully convertible. 67