|By Matein Khalid| The collapse in Brent crude oil below $30, a 20% fall in the Tadawul share index in January 2016’s global equity bloodbath, the cut in fuel subsidies and geopolitical risk escalation in the Middle East has spawned speculation in financial markets that Saudi Arabia will devalue the kingdom’s riyal, now pegged at 3.75 against the US dollar. Senior princes of the royal family and the governor of the Saudi Arabian Monetary Agency (SAMA) have reaffirmed Riyadh’s commitment to its US dollar peg, a source of economic stability in the Gulf for the past two generations. I agree with Saudi Arabia’s financial policymakers that there is no need to abandon a dollar peg that has served the kingdom so well ever since the 1980’s during times of war and peace in the Middle East, during times of inflation and deflation, during times of oil booms and oil busts. My call? Saudi Arabia will not abandon its US dollar peg. Why?