It was a simple change, but it could save you millions of dollars.
Read MoreThe move was made by a Saudi company that was trading at the time with Qatar, according to The Wall Street Journal.
The Saudi company was trading with Qatari exchange Shariq, and when the exchange moved to Qatar, the exchange shifted the value of the Qatari currency to a different Saudi currency, according the WSJ.
The company’s CEO, Hamed al-Omar, was in Qatar to promote his company’s efforts to promote Saudi exports to the Gulf Arab country, which was hit by the devastating floods.
The move helped reduce the value at Shariquq and save the company $40 million, the WSJD reported.
However, the company’s chief financial officer, Khaled al-Jabour, told the WSJC that the move wasn’t a big deal because the Qatar currency was being moved into Saudi Arabia and the Saudi dollar was being exchanged for the Qabatar currency.
“That’s the same kind of thing as if you were to sell a piece of property in the United States,” he said.
“It’s like that in this case.”
Al-Jaber told the newspaper that he was unaware of the move until a reporter pointed it out to him, but the company is currently trying to make the change.
Al-Omari told the Journal that he believes the move was a mistake and that it’s now back in the black.
“It’s not a big change,” he told the paper.
“We will see if it will be reversed.”
The move could help ease some of the pain caused by the floods, but some Saudis fear it will exacerbate the problem.
“The Saudi economy has already been devastated by the recent floods,” Al-Jabi said in a statement.
“The recent announcement that the Saudi currency was moved into Qatar is an attempt to make it worse.”
The Saudi government has pledged to compensate affected families for the lost wages, as well as provide financial aid.
