SAUDI RATES RISE AS BAHRAIN BANKS CAUGHT SHORTSaudi riyal interest rates rose as Bahrain-based banks scrambled to cover short positions, dealers said
    Several Bahrain banks had been lending in the fixed periods and borrowing in the short dates, but today they found the day-to-day money in short supply, dealers said
    "Everybody's stuck in the spot-next," one trader said
    Spot-next rose to as high as 6-1/4, six pct from 5-1/4, five pct yesterday, and the borrowing interest spilled over into the periods, with one month rising to around 6-3/16, 5-15/16 pct from 5-15/16, 7/8 pct yesterday
    Three months edged up to around 6-9/16, 5/16 pct from 6-7/16, 1/4 pct, while six months was quoted a touch firmer by some banks at seven, 6-3/4 pct
    Commercial banks quoted the spot riyal at 3.7500/04 to the dollar after 3.7507/09 yesterday
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