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U.S. dollar "a good buy" -- Saudi c.bank governor

MAINZ, Germany
Wed Mar 12, 2008 1:13pm EDT

MAINZ, Germany (Reuters) - The U.S. dollar is a "good buy", and excessive dollar volatility is undesirable, Saudi Arabia's central bank governor said on Wednesday.

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Asked after a meeting with European Central Bank officials about market talk the Saudi central bank had been in the market buying dollars, Hamad al-Sayyari said rumors should not be listened to but added:

"I said it is undervalued, but the market determines the value of the U.S. dollar."

(Reporting by David Milliken, editing by Andrew Marshall)
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