Spot Saudi riyal back near peg after equities rebound

By Archana Narayanan DUBAI, Feb 8 (Reuters) - The Saudi Arabian riyal has moved back to very near its peg against the U.S. dollar in the spot market after a recovery in local equities prices reduced fund outflows, traders said. The dollar/riyal rate had climbed in recent weeks as high as 3.7605 - its highest level since January 2010, when markets were in the grip of the global financial crisis. Traders attributed the spot market volatility to the plunge of the Saudi stock market, which sank more