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MSCI may shift to offshore FX rates to value Qatar stocks
November 22, 2017 / 7:13 AM / 22 days ago

MSCI may shift to offshore FX rates to value Qatar stocks

DUBAI, Nov 22 (Reuters) - International equity index compiler MSCI may shift to using offshore foreign exchange rates to value Qatar’s equities market because sanctions against Doha have made it more difficult for foreign investors to obtain riyal onshore, MSCI said.

The Qatari riyal last traded at 3.6403 against the U.S. dollar in the onshore market, level with the riyal’s peg against the greenback. But it traded at 3.87 offshore.

MSCI is taking feedback from the investment community on the proposed change until Dec. 1, and will announce its final decision and the date for the potential implementation of any changes by Dec. 5, it said in a statement late on Tuesday. (Reporting by Andrew Torchia; Editing by Toby Chopra)

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