LONDON, June 27 (Reuters) - The Qatari riyal strengthened against the dollar on Tuesday in the forward market, following two days of sharp falls caused by the continued standoff between Doha and neighbouring Arab powers.
One-month riyal forwards showed the currency marked as firm as 3.751 per dollar, according to Reuters data, after hitting a low of 3.793 on Monday. Three-month forwards also saw the riyal firming up to 3.755 compared to the previous day’s low of 3.796.
Qatari assets had come under pressure since Saudi Arabia, the United Arab Emirates, Bahrain and Egypt imposed a boycott on Qatar three weeks ago. The four Arab powers accuse Doha of backing militants and issued an ultimatum over the weekend, including demands that Qatar shut down a Turkish military base. (Reporting by Karin Strohecker; editing by Sujata Rao)